Billionaire investor and NFT collector Adam Weitsman says he purchased 117 Pudgy Penguins NFTs over the October 10–11 weekend to support the collection and its community. The announcement comes as Pudgy Penguins recorded nearly $1.5 million in NFT sales over seven days, with trading activity increasing sharply, according to CryptoSlam data reported on October 10, 2026.
Weitsman announced the purchases on X on October 11, describing Pudgy Penguins as one of his favorite NFT collections. He said the acquisition was intended to encourage confidence among community members during a challenging period for the project.
The reported purchase coincided with a significant increase in weekly sales. However, the available figures do not establish whether Weitsman's acquisition contributed to the collection's broader trading performance.
Weitsman said he bought the 117 digital collectibles to show his support for a project whose community he values.
In his October 11 post, he described the collection as an established NFT project that brings happiness to its supporters. He also expressed confidence in the community, known as the Huddle, and encouraged renewed support for Pudgy Penguins.
The announcement did not disclose the total amount spent on the NFTs. It also did not specify the individual purchase prices, the marketplaces involved or whether Weitsman plans to hold or resell the collectibles.
Consequently, the reported acquisition should be understood as a purchase announcement rather than evidence of a specific investment strategy or a forecast for future NFT prices.
Pudgy Penguins recorded approximately $1.50 million in NFT sales during the seven-day period ending around October 10, according to CryptoSlam figures cited in market reports.
The collection ranked third among NFT collections by weekly sales, behind Courtyard and CryptoPunks.
Key figures for the reporting period included:
These figures indicate that Pudgy Penguins experienced a substantial increase in recorded trading activity during the period.
However, higher sales value alone does not establish sustained demand or a lasting market recovery. The increase in seller participation also suggests that more wallets were offering NFTs for sale during the same period.
The figures cover activity before Weitsman's October 11 announcement. They should not be interpreted as evidence that his purchases triggered the weekly sales increase.
The broader NFT market recorded approximately $39.85 million in sales over the seven days ending October 10, up 0.90% from the preceding week, according to CryptoSlam data.
Ethereum led blockchain-based NFT sales with approximately $17.60 million, followed by Polygon at $8.62 million and Bitcoin at $3.55 million.
At the collection level, Courtyard ranked first with approximately $7.68 million in weekly sales. CryptoPunks followed with around $2.45 million, while Pudgy Penguins placed third at approximately $1.50 million.
The wider market figures provide an important contrast: overall sales value increased only slightly, while Pudgy Penguins recorded a much larger percentage gain.
Nevertheless, the number of buyer addresses across tracked networks fell 85.33% to 30,332, and total NFT transactions declined 6.92% to 778,055. The divergence between sales value and participation suggests that the market's performance was uneven rather than broadly improving across all measures.
Weitsman's latest announcement follows an earlier high-profile acquisition involving Yuga Labs, the company behind the Bored Ape Yacht Club NFT collection.
In August 2025, Weitsman announced that he had purchased more than 5,000 NFTs connected to Yuga Labs' Otherside ecosystem. The reported acquisition included Otherdeeds, Mega Kodas and Weapon Kodas, which are associated with the project's virtual-world environment.
Weitsman presented that purchase as support for the Otherside project and expressed interest in acquiring additional digital collectibles through the secondary market.
The earlier acquisition and the recent Pudgy Penguins purchase involve separate NFT ecosystems. However, both announcements reflect his publicly stated interest in supporting established digital collectible projects.
The latest announcement did not specify whether the 117 Pudgy Penguins NFTs would be held for the long term, traded later or used in other project-related activities.
Pudgy Penguins is an NFT collection launched on Ethereum in July 2021. Its original collection consists of 8,888 penguin-themed digital collectibles, each represented by an individual NFT.
The project expanded beyond digital collectibles after entrepreneur Luca Netz acquired the brand in 2022. Since then, Pudgy Penguins has developed a broader consumer-facing business spanning physical toys, merchandise, trading cards, games and licensing.
This expansion has helped the brand reach audiences outside traditional cryptocurrency marketplaces.
Its business strategy combines blockchain-based collectibles with physical products and digital experiences. This approach differs from an NFT project focused exclusively on trading activity, although the performance of its original collection remains relevant to collectors and market observers.
Pudgy Penguins' broader ecosystem has also faced challenges. In October 2026, reports confirmed plans to shut down Abstract, a consumer-focused Ethereum layer-2 network associated with the ecosystem, on December 15, 2026. The planned network closure is a separate development and does not, by itself, mean the original Pudgy Penguins NFT collection is being discontinued.
Weitsman's reported acquisition places renewed attention on Pudgy Penguins at a time when the collection has recorded a sharp increase in weekly sales.
His public comments indicate that supporting the community was a stated motivation for the purchase. The available information does not establish whether the acquisition will lead to further buying, higher NFT prices or sustained growth in trading activity.
For market observers, the more useful indicators to monitor are subsequent sales volumes, transaction counts, buyer participation and changes in NFT prices over time.
A single high-profile purchase can attract attention to a collection, but continued activity across multiple market participants provides a clearer picture of whether interest is being sustained.
For now, the reported purchase of 117 Pudgy Penguins NFTs and the collection's 125.66% weekly sales increase are two notable developments occurring within the same period. Whether that momentum continues will depend on future market activity rather than the announcement alone.
