Transaction data available on the Abstract blockchain explorer

Igloo Raises $11 Million to Develop New Ethereum Layer-2 Blockchain for Pudgy Penguins

Jul 23, 2024, 03:36 PM

Igloo, Inc., the parent company behind the Pudgy Penguins NFT collection, has successfully raised over $11 million in a funding round led by Founders Fund. The funds will be used to establish Cube Labs, a strategic initiative aimed at overseeing the development of Abstract, a new Ethereum Layer-2 blockchain designed to drive mass adoption of consumer crypto. Other notable investors in the round include Fenbushi Capital, 1kx Network, EVG HQ, and Selini Capital. Abstract aims to bring the next generation of crypto users on-chain, contributing to the broader consumer crypto revolution.