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News

Layer 2 for Pudgy Penguins Is Targeted for Development

June 29, 2024 - Around 2 mins mins to read

Key Points:

  • Igloo acquires Frame to enhance its Ethereum Layer 2 blockchain, Abstract Chain.
  • Frame’s co-founders, Cygaar and Beans, join Igloo to advance the new Layer 2 for Pudgy Penguins.
  • The move aims to bridge Web2 and Web3, making blockchain more accessible.
Igloo, the parent company of Pudgy Penguins, has acquired Frame, a significant player in the creator economy platform space. The strategic move aims to enhance Igloo’s efforts with Abstract Chain, an Ethereum Layer 2 blockchain designed to transform consumer crypto applications.
Layer 2 for Pudgy Penguins Is Targeted for Development

Read more: Pudgy Penguins Review: Top Outstanding NFT Project In The Industry

Igloo Acquires Frame to Enhance Layer 2 for Pudgy Penguins

Frame’s notable co-founders, Cygaar and Beans, renowned blockchain developers, will now join Igloo. They will focus on building the new Layer 2 for Pudgy Penguins, which aims to seize the consumer crypto opportunity. With Frame being sunsetted, Igloo will integrate the Frame team with their expertise in developing innovative on-chain protocols and NFT projects to advance the Abstract Chain.

Launched in 2023, Frame was co-founded by Cygaar, Beans, and Pablo, who built a proprietary on-chain royalty system to protect and reward creators. The acquisition allows Frame’s team to utilize its extensive experience to contribute to Abstract Chain, which promises a secure, ultra-fast, low-cost, and developer-friendly environment for building blockchain solutions.

Bridging Web2 and Web3 for Broader Blockchain Adoption

Abstract Chain aims to pioneer a culture-driven economy on-chain by employing zero-knowledge proofs. The new Layer 2 for Pudgy Penguins aligns with Igloo’s strategy to bridge the gap between Web2 and Web3, making blockchain technology more accessible to the general public.

Igloo was established to create an end-to-end ecosystem for new crypto users. Within this ecosystem, Pudgy Penguins has been instrumental in introducing people to Web3. The Pudgy NFT collection remains one of the top five collections across all NFT marketplaces, and Pudgy toys have sold out quickly at major retailers like Walmart and Target.

The acquisition of Frame is expected to bolster Igloo’s blockchain capabilities, promoting decentralized finance and a community-centered approach.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Abstract Chain

Beans

Cygaar

Igloo

Layer 2

Pudgy Penguins

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.