Igloo, Inc. Acquires the Frame Team and Announces Plans to Contribute Towards Consumer-focused Blockchain
Acquisition of Frame is Igloo, Inc.'s latest step to create a new paradigm for Web3 brand-building
Frame was launched in 2023 by a leading developer team with experience building industry-leading NFT projects and onchain protocols. Co-founded and built by Cygaar, Beans, and Pablo, Frame's unique technology prioritizes its community by ensuring that creators are properly protected and rewarded through a proprietary onchain royalty system. With this acquisition by Igloo, the innovative team behind Frame will leverage their extensive experience to help build for the next generation of crypto users. As the team's first initiative, they will contribute to the Abstract network, which will provide a secure, ultra-fast, low-cost, and developer-friendly way for developers to build.
Cygaar from Frame commented, "We're extremely excited to join forces with the Igloo team and contribute to building infrastructure that will power the next wave of consumer crypto applications. There is no other team in the space that I'd rather work with than the Igloo team. Together, we have the potential to truly onboard retail users to crypto for the first time."
Igloo, Inc. was formed to create an end-to-end ecosystem for new people to come into crypto by pushing the boundaries of onchain experiences. Within Igloo, Inc., Pudgy Penguins operates as the brand at the top of the funnel introducing people to Web3. Pudgy Penguins has successfully bridged the gap between Web2 and Web3, with the Pudgy NFT collection maintaining its dominance as one of the top five collections across all NFT marketplaces. Additionally, Pudgy toys have sold out in record time at Walmart and Target, and the company recently partnered with Lotte. Another Igloo, Inc. project, OverpassIP, has allowed collectors to explore licensing opportunities for their Pudgy Penguins NFTs.
"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," said
As the next steps following the acquisition, Cygaar and Beans will be leveraging their experience to contribute towards the highly anticipated consumer-focused blockchain called Abstract, a secure, ultra-fast, low-cost, and developer-friendly Ethereum L2 powered by zero-knowledge proofs, to lead the next generation of consumer crypto adoption. Abstract is set to create a new standard for culture-driven economies by leveraging new distribution rails, empowering builders, and introducing innovative economic mechanisms onchain. Abstract's primary focus will be building the world's biggest onchain community, driven by the culture economy.
The financial terms of this deal are not being disclosed.
About Igloo, Inc.
Igloo, Inc. is a collection of companies, the largest of which is Pudgy Penguins. Founded in 2024, the company is headquartered in
To learn more about Igloo, visit igloo.inc.
About Abstract
Abstract is a consumer-focused blockchain powered by cutting-edge ZK cryptography for consumer crypto, pioneering culture, community, and creativity onchain. Its mission is to build the world's biggest onchain community, driven by the culture economy, leveraging ZK Stack and EigenDA to provide cheap, fast, and secure transactions. Abstract was invented by individuals who launched and scaled Pudgy Penguins, Ethereum, and Kubernetes.
To learn more about Abstract, visit abs.xyz
About Frame
Frame is an Ethereum-based rollup that focuses on creator empowerment, royalty enforcement, and safety for users. With a mission to build a better home for NFTs, Frame was created by people who've built and advised some of the top protocols and projects in the space.
To learn more about Frame, visit https://www.frame.xyz/
Media Contact
M Group Strategic Communications (on behalf of Igloo, Inc.)
[email protected]
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SOURCE Igloo, Inc.
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