Igloo Inc., the parent company of Pudgy Penguins, has acquired Frame, a prominent player in the creator economy platform space. The acquisition aids Igloo in Abstract Chain, an Ethereum Layer 2 blockchain to revolutionize consumer crypto applications.
Igloo Inc. integrates the Frame team, including co-founders Cygaar and Beans, renowned for their expertise in building innovative on-chain protocols and NFT projects for the Igloo ecosystem to leverage Frame’s capabilities to advance the Abstract Chain. Frame will be sunsetted.
Abstract Chain’s primary objective is to pioneer a culture-driven economy on-chain. The Abstract plans to amplify creators and communities by employing zero-knowledge proof. The additional distribution channels develop new economic models for increasing people’s interaction. This initiative also corresponds to the strategy of the company, Igloo Inc., to close the gap between Web2 and Web3 to spread the use of blockchain by the common people.
Luca Netz, Chief Executive Officer at Igloo, said, “By combining our successful history in creating onchain communities and unique cultures with the expertise of the Frame team, we are excited to contribute to the success of Abstract and its mission of building the world’s biggest onchain community, driving the consumer crypto revolution. In the next few months, Igloo plans on contributing to the development of an end-to-end user and builder experience.”
As the team’s first initiative, they will contribute to the Abstract network, which will provide a secure, ultra-fast, low-cost, and developer-friendly way for developers to build.
The recent acquisition of Frame by Igloo Inc. aims to build blockchain solutions. By promoting Decentralized Finance, a community-centered approach, and logistics, Abstract Chain will change the way we manage decentralized assets.
The Pudgy Penguins NFT collection accumulated more than $4 million in trading activity this week. In February, even Walmart introduced Pudgy Penguins toys to the 2100 stores nationwide in the US.
