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The Pudgy Penguins L2
Published on June 28, 2024
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The Pudgy Penguins L2

Last weekend, Pudgy Penguins welcomed Igloo Inc., its new parent company, and then today this new company welcomed its first acquisition: Frame.

This NFT-centric L2, which was notable for having its own in-built liquidity and royalties system called Palette Protocol, will now form the basis of a new culture L2 named Abstract that's to be focused on powering consumer crypto apps in general, not just Pudgy-related efforts.

"In my opinion, L2s are the rails for the onchain culture economy," Pudgy Penguins lead Luca Netz said on the news. "To fuel this economy, you need community, culture, and distribution, and I believe nobody in crypto does those 3 things better than us."

All this said, as the dust settles on the acquisition, we're left to ponder the big questions, like what will the Abstract tokenomics look like? What will the L2's first apps be? And when will the mainnet launch drop?

Only time will tell for now, but at the very least Abstract shows us that the minds behind Pudgy Penguins have much bigger ambitions beyond just dominating the ETH NFTs scene!

📰 General news

🎨 Cryptoart & music

🏆 Digital collectibles

🎮 Decentralized gaming

📱 Onchain social

🪙 NFTfi 

🌐 Virtual worlds


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