Igloo, Inc. acquires Frame’s crypto developer team to enhance Ethereum Layer 2 blockchain development
In a strategic move aimed at strengthening its position in the blockchain industry, Igloo, Inc., the parent company of Pudgy Penguins, has officially announced the acquisition of the Frame team. Frame, known for its pioneering role in crypto development, will be sunsetted as its co-founders, Cygaar and Beans, join Igloo to focus on developing Abstract, a new Ethereum Layer 2 (L2) blockchain.
The acquisition centers on utilizing Frame’s innovative technology and the expertise of its co-founders. Cygaar and Beans will play crucial roles in building Abstract, which promises to revolutionize the consumer crypto landscape with its secure, ultra-fast, low-cost, and developer-friendly infrastructure. This new blockchain aims to cater to the next wave of consumer crypto applications, setting a robust foundation for future growth.
Cygaar, a co-founder of Frame, expressed enthusiasm about the merger, stating, “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.”
Luca Netz, CEO of Igloo, Inc., highlighted the strategic importance of the acquisition, “Frame’s team has unmatched experience in building platforms that change the dynamic of how users interact with blockchain technology. By combining our successful history in creating onchain communities with the expertise of the Frame team, we are excited to contribute to the success of Abstract and its mission of building the world’s biggest onchain community.”
Igloo, Inc. has consistently pushed the boundaries of onchain experiences, fostering an ecosystem that bridges the gap between traditional and digital realms. The company’s Pudgy Penguins brand has been instrumental in introducing new users to Web3, with notable achievements in both digital and physical marketplaces. Igloo’s initiative, OverpassIP, further explores how Pudgy Penguins NFT owners can utilize licensing opportunities.
The integration of Frame’s team is seen as a forward-thinking strategy by Igloo to harness specialized skills for its ambitious projects. Abstract’s development is particularly notable for its potential to simplify and enhance the developer experience on blockchain platforms, which is crucial for driving wider adoption.
With the acquisition of Frame and the strategic focus on developing Abstract, Igloo, Inc. is set to further its mission of creating inclusive, innovative platforms that welcome the next generation of builders and users into the crypto space.