Key Points:
- Igloo acquires Frame to enhance its Ethereum Layer 2 blockchain, Abstract Chain.
- Frame’s co-founders, Cygaar and Beans, join Igloo to advance the new Layer 2 for Pudgy Penguins.
- The move aims to bridge Web2 and Web3, making blockchain more accessible.
Igloo Acquires Frame to Enhance Layer 2 for Pudgy Penguins
Frame’s notable co-founders, Cygaar and Beans, renowned blockchain developers, will now join Igloo. They will focus on building the new Layer 2 for Pudgy Penguins, which aims to seize the consumer crypto opportunity. With Frame being sunsetted, Igloo will integrate the Frame team with their expertise in developing innovative on-chain protocols and NFT projects to advance the Abstract Chain.
Launched in 2023, Frame was co-founded by Cygaar, Beans, and Pablo, who built a proprietary on-chain royalty system to protect and reward creators. The acquisition allows Frame’s team to utilize its extensive experience to contribute to Abstract Chain, which promises a secure, ultra-fast, low-cost, and developer-friendly environment for building blockchain solutions.
Bridging Web2 and Web3 for Broader Blockchain Adoption
Abstract Chain aims to pioneer a culture-driven economy on-chain by employing zero-knowledge proofs. The new Layer 2 for Pudgy Penguins aligns with Igloo’s strategy to bridge the gap between Web2 and Web3, making blockchain technology more accessible to the general public.
Igloo was established to create an end-to-end ecosystem for new crypto users. Within this ecosystem, Pudgy Penguins has been instrumental in introducing people to Web3. The Pudgy NFT collection remains one of the top five collections across all NFT marketplaces, and Pudgy toys have sold out quickly at major retailers like Walmart and Target.
The acquisition of Frame is expected to bolster Igloo’s blockchain capabilities, promoting decentralized finance and a community-centered approach.