Cygaar and Beans, the co-founders of Frame, have partnered with Igloo to facilitate the development of the new Layer 2 for Pudgy Penguins.
Igloo, the parent company of Pudgy Penguins, has acquired Frame, a significant participant in the creator economy platform sector. The strategic decision is intended to improve Igloo’s endeavors with Abstract Chain, an Ethereum Layer 2 blockchain that is intended to revolutionize consumer crypto applications.
Renowned blockchain developers, Beans and Cygaar, who were Frame’s notable co-founders, will now be joining Igloo. In order to capitalize on the consumer crypto opportunity, they will concentrate on the development of the new Layer 2 for Pudgy Penguins. Igloo will integrate the Frame team, which possesses a wealth of experience in the development of inventive on-chain protocols and NFT initiatives, in order to advance the Abstract Chain in the wake of Frame’s sunsetting.
Cygaar, Beans, and Pablo co-founded Frame in 2023. They developed a proprietary on-chain royalty system to safeguard and compensate creators. The acquisition enables Frame’s team to leverage its extensive experience to contribute to Abstract Chain, which offers a secure, developer-friendly, low-cost, and ultra-fast environment for the development of blockchain solutions.
Abstract Chain’s objective is to establish a culture-driven economy on-chain through the use of zero-knowledge proofs. The new Layer 2 for Pudgy Penguins is consistent with Igloo’s strategy to reduce the barrier between Web2 and Web3, thereby increasing the accessibility of blockchain technology to the general public.
The purpose of Igloo was to establish a comprehensive ecosystem that would cater to novice cryptocurrency users. Pudgy Penguins has played a critical role in introducing individuals to Web3 within this ecosystem. The Pudgy NFT collection continues to be one of the top five collections on all NFT marketplaces, and Pudgy toys have gone rapidly out of stock at major retailers such as Walmart and Target.
It is anticipated that the acquisition of Frame will enhance Igloo’s blockchain capabilities, thereby fostering decentralized finance and a community-centered approach.
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