Pudgy Penguins NFT Creator, Igloo Inc, Begins Developing Its L2 Network On Ethereum

Igloo
Inc,
the
digital
asset
incubation
studio,
toy
product
merchandise,
and
the
Pudgy
Penguins
non-fungible
token
collection
parent
company,
has
started
developing
its
layer
two
(L2)
chain
on
the
Ethereum
main
net
called
Abstract.
The
Pudgy
Penguins
NFT
creator
appears
following
the
footprints
of
notable
NFT
projects,
such
as
Yuga
Labs
and
Blur,
which
have
also
developed
their
L2
networks.

This
Week
in

@AbstractChain:

????
I’m
closely
following
Abstract,
the
upcoming
consumer
L2
by
the

@pudgypenguins
team.
They’ve
had
a
crazy
week
+
just
finished
a
founder
AMA
with

@LucaNetz.
Are
poised
to
become
a
major
Blast
competitor
in
the
months
ahead.
Here’s
a
full
run-down…

—
Untamed
Adam
(@adamagb)

July
29,
2024

Pudgy
Penguins
Creates
Its
L2
Network
On
Ethereum

In
a
blog
post
shared
late
past
weekend,
Igloo
Inc.
confirmed
that
it
has
started
developing
its
blockchain
network
on
top
of
the
Ethereum
main
network.
The
new
Ethereum
Layer
Two
network,
Abstract,
is
expected
to
be
“the
largest
blockchain
network
for
consumer
crypto
users.”

Introducing
Abstract,
the
blockchain
for
consumer
crypto.

Through

@IglooInc;

@foundersfund,

@fenbushi,

@1kxnetwork
and
others
will
contribute
towards
bringing
the
next
generation
of
crypto
users,
onchain.

Learn
more
and
how
to
participate
below:

pic.twitter.com/SjkIh0AGK0

—
Abstract
(@AbstractChain)

July
23,
2024

Revealed
in
June
2024,
Igloo
Inc.
is
now
the
parent
company
of
Pudgy
Penguins,
a
non-fungible
token
collection
featuring
a
fixed
set
of
8,888
cute
penguins
hosted
on
the
Ethereum
network,
and
Lil
Pudgys,
a
non-fungible
token
collection
featuring
a
limited
set
22,222
NFTs
originating
from
Pudgy
Penguins.

As
part
of
its
roadmap
advancement,
Igloo
Inc.
has
started
creating
its
new
layer
two
blockchain
network
that
will
remove
the
complicated
parts
of
blockchain
to
get
mass
adoption.
The
Pudgy
Penguins
team
joins
the
rapidly
growing
list
of
non-fungible
token
projects
that
have
already
created
their
blockchain
network,
which
includes
Blur
NFT
marketplace
and
Yuga
Labs,
the
creator
of
Bored
Ape
Yacht
Club.

What
Is
Abstract
L2
Network?

Pudgy
Penguins’
Abstract
is
a
zero-knowledge
(ZK)
L2
built
on
top
of
Ethereum.
The
Abstract
blockchain
network
is
built
using
the
ZK
stack,
a
standardized,
shared,
and
open-source
development
solution
for
ZK
rollups
built
by
ZKsync,
which
gives
it
some
interesting
superpowers.

The
Abstract
will
be
EVM-compatible,
allowing
developers
to
seamlessly
migrate
their
smart
contracts
from
other
EVM-compatible
chains.
Moreover,
the
upcoming
Abstract
Layer
Two
network
will
submit
validity
proofs
to
the
Ethereum
L1,
proving
the
validity
of
the
transactions
that
occurred
on
the
L2.

In
the
meantime,
the
Pudgy
Penguins
team
has
launched
their
Testnet
this
week.
The
chief
executive
officer,
Luca
Netz,
will
host
an
open
AMA
every
two
weeks
to
build
public
confidence.
The
Abstract
will
join
the
burgeoning
L2
landscape,
in
which
Arbitrum
(ARB),
Base,
and
Blast
(BLAST)
are
currently
the
biggest
Ethereum-based
L2s
in
the
world
in
terms
of
total
value
locked.

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