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Pudgy Penguins Launches AbstractChain, Aiming for $5B-$10B Valuation

Jun 28, 2024, 09:00 PM

Pudgy Penguins, under the parent company Igloo Inc, has announced the launch of AbstractChain, a zk L2 blockchain aimed at revolutionizing consumer crypto. The initiative includes the acquisition of the Frame team, which will contribute to building AbstractChain, also referred to as Pudgy Chain. This new blockchain will focus on enhancing the consumer experience and integrating cultural and community elements along with advanced technology. Frame's Palette Protocol, a native liquidity and royalties system, will be melded into AbstractChain. The rebranded PengPals, formerly known as PengChain, will be a gamified L3 built on top of AbstractChain, adding more value to the ecosystem. The project is expected to significantly boost the Pudgy Penguins ecosystem, potentially reaching a valuation of $5 billion to $10 billion.