Igloo Inc. Acquires Frame

In this post

Igloo, Inc., the Pudgy Penguins parent company, acquired the Frame team to develop a new Ethereum Layer 2 blockchain, Abstract, aimed at revolutionizing consumer crypto.

The Deets

Team Integration: Frame's co-founders, Cygaar and Beans, will join Igloo.
New Blockchain: The team will help build Abstract, an Ethereum Layer 2 solution.
Frame Sunset: Frame will be phased out as part of the acquisition.
Community Focus: Abstract aims to onboard the next generation of crypto users.

The Bulk

Igloo, Inc., the parent company of Pudgy Penguins, announced the acquisition of Frame, a team of crypto developers. Frame's co-founders, Cygaar and Beans, are set to contribute to the development of Abstract, a new Ethereum Layer 2 blockchain designed to capitalize on the consumer crypto opportunity.

Launched in 2023, Frame was built by a leading team of blockchain developers with a focus on empowering creators and ensuring proper reward systems through its proprietary onchain royalty system. With this acquisition, Igloo plans to leverage Frame's innovative technology and extensive experience to build for the next generation of crypto users. Abstract promises to be a secure, ultra-fast, low-cost, and developer-friendly blockchain, positioning itself as a significant player in the evolving crypto landscape.

🎤 Founder Feedback

Since inception, Igloo has remained steadfast in our commitment to creating a Web3 ecosystem that enables new ways for brands to interact directly with their consumer base. Frame's team has unmatched experience in building platforms that change the dynamic of how users interact with blockchain technology and how to easily merge both the real and digital worlds.Luca Netz, CEO Pudgy Penguins

🔜 What's Next?

Igloo plans to continue developing an end-to-end user and builder experience, with a focus on integrating Abstract's capabilities into its existing ecosystem. Stay tuned for updates on the launch and development progress of Abstract.

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Author Bio

Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

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