Pudgy Penguins’ prominence had waned after the 2023 launch of its plush toys.
Decrypt reports that this changed last week, when Igloo Inc., the parent company of Abstract’s collection, raised 11 million dollars in a funding round, led by Founders Fund, to create a layer-2 Blockchain called Abstract.
Igloo Inc, the company that owns Pudgy Penguins was quietly established in June. Its goal is to grow sales. “the consumer crypto revolution.” Abstract layer-2, which Igloo developed, is the new abstract layer. “chain built for the next generation of consumer crypto.”
Abstract, based on ZKsync’s zkStack Virtual Machine, aims to improve the user’s experience by using account abstraction. This will make use of EigenLayer’s EigenDA service for data availability.
Igloo acquired Frame in June. Frame had been developing a layer-2 NFTs stack using Arbitrum’s Nitro technology. The hope was that Frame’s team could help build Abstract.
Joey Krug, Founders Fund’s partner in an X-post, said that the company was attracted to Pudgy Penguins for its layer-2 vision and to its ability to attract customers through their NFT toys.
“[W]henever someone buys a pudgy penguin in stores like @Walmart and @Target, @IglooInc actually makes money on those sales, and it’s basically a way to not only […] pay for users, but actually acquire users profitably, which is extremely novel within crypto,” Krug writes
Telegram’s chief executive is optimistic about the game app
Telegram’s CEO Pavel Durov had a rocky road in crypto. He was forced to stop the app from launching a cryptocurrency token after the US Securities and Exchange Commission intervened.
Durov remains active in crypto-related and Web3 initiatives. He shouted in his private channel that the TON minigame Catizen had earned $16 million from in-app purchases.
Durov announced a few weeks ago that Telegram will introduce an Enhanced Chat feature in July. “mini app store and an in-app browser with support for Web3-pages.”
Tonkeeper has also been working this week “in close cooperation” Together with the core team of TON we are launching a smart wallet on the network.
This is an interesting fact
- A Dune dashboard reported that Polymarket traded over $27 million on both Tuesdays and Wednesdays, which is a record-high for the prediction market.
Note:
- Epic Games’ CEO Tim Sweeney has said. “perhaps someday” The popular game Fortnite will use blockchain technology.
- OKX, a crypto-exchange company, launched a Telegram app that allows users to guess bitcoin’s price.
- Epic Games has launched the Ethereum game Illuvium.
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