News

Layer 2 for Pudgy Penguins Is Targeted for Development

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.

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.

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.

Recent Posts

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

1 hour ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

4 hours ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

6 hours ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

7 hours ago

This website uses cookies.