Adam Weitsman says he bought 117 Pudgy Penguins to support the community as the collection’s weekly NFT sales rose by 126% to $1.5 million. | Credit: CCN.com
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Key Takeaways
Adam Weitsman says he bought 117 Pudgy Penguins NFTs to support the collection and bolster community confidence.
Weekly sales rose 126% to approximately $1.50 million, alongside increases in transactions, buyers, and sellers.
The available data does not establish how much Weitsman’s purchases contributed to the sales jump.
Billionaire businessman and NFT collector Adam Weitsman says he bought 117 Pudgy Penguins over the weekend, offering a public vote of confidence as the collection recorded a sharp increase in weekly trading activity.
The metal recycling entrepreneur described the purchases as support for one of his favorite NFT communities during a difficult period.
His announcement came alongside CryptoSlam figures showing Pudgy Penguins generated approximately $1.50 million in weekly sales through Oct. 10, up by 126%.
The timing links two notable developments, although the available data does not establish the extent to which his purchases contributed to that increase.
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Weitsman said he acquired the digital collectibles through on-chain transactions over the Oct. 10-11 weekend.
“This weekend I wanted to support one of my favorite collections during a difficult time,” he wrote on X.
He said the purchase was intended to “spread confidence” within a community he had grown to love, describing Pudgy Penguins as an established project that brings happiness to its supporters.
“The Huddle will stay strong,” he added, using the community’s nickname.
This weekend I wanted to support one of my favorite collections during a difficult time. Decided to buy 117 Pudgy Penguins on chain to spread confidence for the community I have grown to love.
Wanted to support this OG project that’s bringing happiness to many. The Huddle will… pic.twitter.com/2FSxuqzO2c
The announcement did not disclose his total expenditure, individual purchase prices, or a complete list of transactions. Consequently, the acquisition count remains attributed to Weitsman’s statement rather than a transaction-by-transaction reconciliation.
He also did not specify a holding period, resale target, or commitment to make additional purchases.
That leaves the clearest stated motivation as community support. It does not establish whether he considers the NFTs undervalued or expects a particular financial return.
The purchase nevertheless represents a substantial addition: 117 NFTs equal approximately 1.3% of the original collection’s 8,888 penguins.
Weekly Sales More Than Double as Participation Rises
Pudgy Penguins’ weekly performance stood out against a relatively subdued broader NFT market.
It’s approximately $1.50 million in sales, with 196 transactions, up 151% from the previous period. Buyer addresses increased by 540% to 94, while seller addresses climbed by 102% to 123.
Those figures suggest activity expanded across several measures, rather than sales value alone. However, wallet addresses do not necessarily represent distinct individuals.
Across tracked NFT markets, weekly sales reached approximately $39.9 million, an increase of just 0.9%. Ethereum led with $17.6 million, followed by Polygon at $8.6 million and Bitcoin at $3.6 million.
Broader participation weakened despite that modest sales increase. Buyer addresses fell by 85% to 30,332, while transaction counts declined by 6.9% to 778,055.
Pudgy Penguins therefore outperformed the wider market during the measured period.
Still, the sales window ended October 10, while Weitsman described purchases across the weekend. The figures cannot establish a clean before-and-after effect from his buying.
A Familiar Collector Backs a Brand Beyond NFTs
Weitsman has previously made large purchases connected to established NFT projects.
In August 2025, he announced that he had acquired more than 5,000 Yuga Labs-associated collectibles, including Otherdeeds, Mega Kodas, and Weapon Kodas from the Otherside ecosystem.
He described that earlier acquisition as a long-term investment supporting Yuga’s metaverse ambitions.
Today is a special day for me.
I’m making a long-term investment in Otherside and acquiring over 5,000 Otherdeeds, Mega Kodas and Weapon Kodas direct from @yugalabs to continue building my collection. I have also committed to making a series of acquisitions on the open market… pic.twitter.com/I9HeQwNx5k
Pudgy Penguins operates separately, but the latest purchase follows a similar pattern of backing recognizable projects and their communities.
The collection launched on Ethereum in July 2021. Following its acquisition by Luca Netz and his partners in 2022, the business expanded into toys, physical collectibles, gaming, and entertainment.
Its official store continues to offer plush products and character merchandise, giving the brand a presence beyond crypto marketplaces.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors.
Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.
