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• The collaboration aims to merge NFTs with institutional funds.
• Sharp’s Solana-based treasury network will enhance cross-chain interactions and capital efficiency.
• PENGU has gained more than 2% after the announcement.

NFT brand Pudgy Penguins has entered a strategic alliance with publicly listed Sharps Technology to explore how to integrate non-fungible tokens into on-chain treasury strategies.

The development is crucial as it marks a significant move in Pudgy Penguin’s growth beyond Web3.

🚨NEW: @pudgypenguins has partnered with Nasdaq-listed Sharps Technology to integrate its $400M+ @Solana-based digital asset treasury with the Pudgy brand. The collaboration aims to connect NFT culture with institutional finance and expand access to onchain asset management. pic.twitter.com/SvqvDMA7XI

— SolanaFloor (@SolanaFloor) October 10, 2025

The project is shifting from its original NFT culture into a recognizable player within the blockchain and digital finance sectors.

Further, collaborating with a Nasdaq-listed firm reflects Pudgy Penguin’s evolution into a structured cryptocurrency project with institutional relevance.

Native coin PENGU decoupled from the prevailing market-wide slump with an over 2% uptick after the announcement.

The collaboration will connect Sharps’ Solana-based treasury platform with Pudgy Penguins’ intellectual property (IP), establishing a model that targets both institutional and retail markets within the Solana ecosystem.

Sharps Technology supercharges PENGU ecosystem

Sharps Technology has gained traction due to its strategic maturity from medical to blockchain, building a notable on-chain treasury platform on Solana.

Sharps’ treasury platform promises capital efficiency, automated treasury management, and real-time visibility.

Indeed, these features are vital in transforming how Web3 projects manage capital.

Through Pudgy Penguins, Sharps Technology gains exposure to a vibrant and fast-expanding NFT marketplace, while PENGU enjoys transparent, scalable financial support.

Notably, the collaboration brings Sharp’s blockchain treasury capabilities to the Pudgy Penguins network.

The move could set the stage for other non-fungible tokens projects looking to revolutionize financial management using decentralized tools.

Pudgy Penguins expands Web3 utility beyond NFTs

Launched in July 2021 as an Ethereum-based NFT collection of 8,888 unique avatars, Pudgy Penguins quickly became a recognizable brand in the non-fungible token space.

After the project’s acquisition by entrepreneur Luca Netz in 2022, Pudgy Penguins shifted its focus from collectible assets to building a Web3-native consumer brand.

This new direction has included multiple retail and digital initiatives.

The team expanded into physical merchandise, distributed through retail outlets, and launched Pudgy World, an interactive virtual experience designed to strengthen community engagement.

In 2024, the project introduced its native PENGU token, built with cross-chain compatibility, governance functionality, and a deflationary staking model aimed at increasing long-term value.

The token initiative aligned with Pudgy Penguins’ broader strategy to merge virtual ownership with tangible consumer products.

Now, the brand’s partnership with Sharps Technology represents a further step in its long-term plan to deepen Web3 integration and enhance institutional connectivity.

By leveraging Sharps’ digital asset tools, Pudgy Penguins aims to expand its brand’s financial and technological infrastructure within the Solana network.

PENGU price outlook

Cryptocurrencies traded in the red on Friday as Bitcoin appears stuck below $122,000.

While bears flexed their muscles, Pudgy Penguin’s native token seemed to lead the recovery.

PENGU gained more than 2% as Sharps Technology’s updates sparked optimism. It is trading at $0.03160.

PPENGU flashes bullish reversal signs after weeks of consolidation.

It has formed a reliable support barrier at $0.027, which has prevented declines several times since September.

Buyers target the nearest resistance between $0.034 and $0.035 – a key zone that served as a support and rejection zone in mid-September.

Australia’s corporate regulator has released updated guidance on digital assets, which blockchain executives have welcomed, while airing concerns on the speedy issuance of licenses.

The Australian Securities and Investments Commission updated its Info Sheet 225 on Wednesday, announcing that companies offering crypto services classified as financial products will need to become a member of the Australian Financial Complaints Authority and lodge for an Australian Financial Services License by June 30.

Bitcoin not a financial product

John Bassilios, a crypto lawyer and partner at Hall & Wilcox, told Cointelegraph that under the new guidance, tokens such as Bitcoin (BTC), gaming non-fungible tokens, and tokenized concert tickets are unlikely to be considered financial products.

“If you’re an exchange and you only deal in Bitcoin, then you don’t need to apply for a license based on that guidance,” he said.

However, stablecoins, wrapped tokens, tokenised securities and digital asset wallets are among what ASIC considers financial products in its updated guidance.

Bassilios said this could also include yield-bearing stablecoins, tokenised real estate, tokenised bonds and staking as a service, where there are restrictions such as a minimum staking balance or lock-up period.

ASIC also said it has made an in-principle decision to grant regulatory relief for stablecoin and some wrapped token distributors to smooth the transition to proposed law reform.

Guidance provides clarity, but structural bottlenecks remain

Steve Vallas, the CEO of the consulting firm Blockchain APAC, told Cointelegraph that the updated guidance sets a demanding standard that will take significant coordination across all policy, law and industry to implement.

“ASIC has chosen to operationalise policy ahead of law reform. That approach brings certainty in the short term but also exposes just how much interpretation is now doing the work of legislation,” he said.

Vallas said the real test will now lie in implementation with “structural bottlenecks,” likely to cause issues.

“They include limited recognised local expertise, banking access and insurance capacity. Without practical solutions, compliance risks shifting from a legal challenge to a logistical one,” he said.

Guidance welcome and long-awaited

Amy-Rose Goodey, the CEO of advocacy group the Digital Economy Council of Australia, told Cointelegraph the industry had been waiting for clarity like this for a long time.

“It gives us an indication and visibility on ASIC’s position, how they’re going to treat the businesses within the digital asset sector, which we were not fully across until this point,” she said.

However, Goody agrees there are still concerns about ASIC’s resourcing and the ability to process a large number of licences in a timely fashion to ensure businesses are in compliance.

Related: Young Australians’ biggest financial regret: Ignoring Bitcoin at $400

The industry is currently in a “transition stage,” according to Goody, with businesses restructuring and reviewing the licenses they are required to hold.

The Albanese government proposed a new crypto framework regulating exchanges under existing financial services laws in March, with the Treasury finishing a consultation on Friday on draft legislation that would extend finance sector laws to crypto service providers.

Magazine: Cliff bought 2 homes with Bitcoin mortgages: Clever… or insane?