Igloo, a blockchain company, has recently acquired Frame, a move aimed at enhancing its Ethereum Layer 2 blockchain, Abstract Chain. The co-founders of Frame, Cygaar and Beans, who are renowned blockchain developers, will now be joining Igloo to work on building the new Layer 2 for Pudgy Penguins. This acquisition will allow Igloo to leverage the expertise of the Frame team, known for their innovative on-chain protocols and NFT projects, to further advance the Abstract Chain.
Frame, founded in 2023 by Cygaar, Beans, and Pablo, developed a proprietary on-chain royalty system to protect and reward creators. With Frame being sunsetted, the team will now focus on contributing their vast experience to the Abstract Chain. The Abstract Chain promises to offer a secure, ultra-fast, low-cost, and developer-friendly environment for building blockchain solutions, thus catering to the growing consumer crypto market.
The Abstract Chain aims to pioneer a culture-driven economy on-chain through the use of zero-knowledge proofs. The introduction of the new Layer 2 for Pudgy Penguins is aligned with Igloo’s strategy to bridge the gap between Web2 and Web3, thereby making blockchain technology more accessible to the general public. Igloo’s mission is to create an end-to-end ecosystem for new crypto users, with the Pudgy Penguins NFT collection playing a key role in introducing people to Web3.
The Pudgy Penguins NFT collection has gained significant popularity, ranking among the top five collections across all NFT marketplaces. Additionally, Pudgy toys associated with the collection have quickly sold out at major retailers such as Walmart and Target. The acquisition of Frame is expected to bolster Igloo’s blockchain capabilities, promoting decentralized finance and a community-centered approach to blockchain technology.
Overall, the acquisition of Frame by Igloo represents a significant step towards advancing the Abstract Chain and enhancing the Layer 2 for Pudgy Penguins. By bringing together the expertise of Frame’s co-founders with Igloo’s existing capabilities, the collaboration is expected to drive innovation in the blockchain space. The ultimate goal is to bridge the gap between Web2 and Web3, making blockchain technology more accessible and appealing to a broader audience while promoting a decentralized and community-centered approach to finance.
