Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Pudgy Penguins parent firm Igloo Inc acquires Frame

Pudgy Penguins parent firm Igloo Inc acquires Frame

The BlockThe Block2024/06/28 22:52
By:The Block

Quick Take Pudgy Penguins’ parent firm Igloo Inc. acquired the web3 creator-focused platform Frame. The Frame team will join Igloo in developing Abstract Chain, a network building out on-chain culture and communities.

Igloo Inc., the parent firm behind the popular NFT project Pudgy Penguins, acquired the on-chain creator economy platform Frame. The terms of the deal were not revealed.

The purpose of the acquisition is to develop Abstract Chain, a Layer 2 network designed for on-chain culture and communities, Igloo Inc. CEO Luca Netz explained on the social media platform X.

The Frame team will now join Igloo. "By combining forces, we will provide the infrastructure and distribution necessary to usher crypto into the consumer crypto revolution," Netz added.

Frame develops infrastructure such as the permissionless creation of NFT marketplaces that enforce creator royalties. The platform also allocates some of its Layer 2 gas fees to support creators, according to the firm's website.

"Abstract will pioneer a new era driven by the culture economy, create distribution rails, empower builders and introduce innovative economic mechanisms on-chain," Frame wrote on the social media platform X.

The Pudgy Penguins NFT collection brought in over $4 million in trade volume this week and nearly $14 million between June 16 and June 23, according to The Block's Data Dashboard.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like