Pudgy Penguins, the NFT collection of 8,888 flightless birds, has squashed recent speculation that they were planning to purchase OpenSea. That speculation deepened in December 2024, based on OpenSea’s previous statements and the recent changes in platform policy. Pudgy Penguins are going strong! Jointly, they’re living through the largest growth and expansion era in their history, recently experiencing a boom in NFT sales and with the launch of a new Web3 game on the horizon. The collection has been making waves with its expansion into physical products and strategic partnerships, all while navigating the volatile NFT landscape.
Acquisition Rumors Debunked
In December 2024, news began leaking that Pudgy Penguins was buying OpenSea. That excitement only grew after the founder posted cryptically about their plans to buy this thing. OpenSea’s unexpected policy change, announcing the end of support for some tokens, poured on the gasoline. Beau, Head of Security for Pudgy Penguins, was quick to squash the rumors. He batted these concerns away with a post on X, the platform that was once known as Twitter.
Pudgy Penguins didn’t buy OpenSea… chill - Beau
Beau stated that acquiring OpenSea "rn" (right now) would not be a sensible move for Pudgy Penguins, thus dispelling the rumors. The company apparently has different plans.
Expansion and Growth
Pudgy Penguins initially launched in July 2021 and quickly transcended from a simple digital collectible. Now, it’s taking the world by storm in IRL with its totally rad new series of Pudgy Toys! This awesome expansion is done in collaboration with PMI Toys. The relocation demonstrates the company’s efforts to expand its influence and bring their brand into the real world.
On July 22, Pudgy Penguins were rejoicing over 83 new purchases. Their floor price exploded by 15.9%, within just 24 hours of this announcement going live. Considering the activity, this translated to just over $180,000 per NFT, further reiterating the collection’s intense market demand and increasing popularity. This dramatic increase in activity clearly underscores the energy, interest and confidence that has been restored within the Pudgy Penguins brand.
While Pudgy Penguins was built on the foundation of their physical plushies, the brand has gone beyond physical products. They’ve released Pengu Clash, a skill-based mini-game on The Open Network (TON) Blockchain, entering the Web3 gaming arena. This purposeful pivot positions Pudgy Penguins at the intersection of NFTs and blockchain gaming. First, it takes advantage of the growing market for decentralized entertainment. With the introduction of Pengu Clash, Pudgy Penguins continues to reinforce their mission to be front-runners in innovation and engagement in the ever-evolving Web3 ecosystem.
Play-to-win, in essence, is a skill-based game - Luca Netz
Future Plans
Even while debunking the OpenSea acquisition rumors, Beau teased at some big things coming for Pudgy Penguins. He is passionate about the power of smart collaborations between smaller brands and larger strategic partners.
Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with - Beau
Beau focuses on the company’s objective to increase its brand reach. His focus turns to their general strategy of working with well-known players to generate buzz and market share. These partnerships will help to continue raising awareness of the Pudgy Penguins brand and open it up to new audiences.
Pudgy Penguins’ recent moves have come at a time when the NFT market has been in a general recovery. While the report failed to highlight actual floor price performance, Pudgy Penguins have surged. On the other hand, collections such as CryptoPunks had an incredible boom, their floor price increasing by 53%. Median weekly dollar trading volumes of NFTs surged 51%, the industry’s best showing since February. This wave of market recovery has created an excellent environment for Pudgy Penguins’ continued long-term growth and smart plans.
