Igloo Inc. Acquires Frame to Develop zk L2 Abstract Chain, Aiming for $5B-$10B+ Consumer Crypto Ecosystem

Jun 28, 2024, 08:55 PM

Igloo Inc., the parent company of NFT project Pudgy Penguins, has acquired the on-chain creator economy platform Frame. The Frame team will join Igloo to develop a Layer 2 network called Abstract Chain, designed specifically for on-chain culture and community. This new initiative aims to leverage Pudgy Penguins' strong community and intellectual property to create a consumer-focused crypto ecosystem. The rebranded PengChain, now known as PengPals, will be built on top of Abstract Chain, offering gamified experiences and more value to the ecosystem. The acquisition and development efforts, led by Luca Netz, aim to create a zk L2 with a consumer experience focus, potentially growing the Pudgy ecosystem to $5B-$10B+.