Pudgy Penguins has formally dismissed recent rumors regarding a potential acquisition of NFT marketplace OpenSea. The project emphasized its strategy remains centered on ecosystem expansion through brand partnerships and organic growth opportunities with entities like Lufthansa and NASCAR.
The IP-driven project highlighted its ongoing collaborations with major global brands as the primary route to boost its visibility and utility. These partnerships are intended to further develop the Pudgy Penguins ecosystem.
This focus comes amid a significant rebound across the wider NFT sector. Total NFT market capitalization has now surpassed $6.5 billion, representing the highest level reached since January.
Adding to its profile, the project’s native token, PENGU, is involved in an ETF application. This involvement marks a relatively uncommon occurrence within the NFT token space.
Simultaneously, OpenSea is evolving its own strategy with the launch of OS2, a new multi-chain platform. Additionally, OpenSea has announced plans to introduce a SEA token, expected to include an airdrop distribution to its user community.