2024-06-29
Igloo Inc. CEO Luca
Netz, the parent company of Pudgy Penguins, announced that the company
has acquired Frame.
Frame is an Ethereum L2 designed
to scale NFT adoption and an on-chain
creator platform.
The Frame team will now
join Igloo in developing Abstract Chain, a layer-2 network designed for
consumer crypto experiences.
This acquisition is part
of Igloo’s mission to onboard the next generation of builders and users onto
the blockchain by fostering community and creativity.
The Frame team, known
for their pioneering work in crypto development, will contribute their
expertise towards building the Abstract network, which aims to provide a
secure, ultra-fast, low-cost, and developer-friendly platform for developers to
build on.
Frame’s co-founders,
Cygaar and Beans, will be instrumental in this initiative, leveraging their
extensive experience to help build infrastructure for the next wave of consumer
crypto applications.
This move is in line with Igloo’s vision to create an end-to-end ecosystem for newcomers to crypto, pushing the boundaries of on-chain experiences and merging the real and digital worlds.
Pudgy Penguins continues
to be a leading brand in introducing people to Web3, with successful ventures
such as sold-out Pudgy toys at Walmart and Target, and a recent partnership
with Lotte.
