Igloo Acquires Frame to Boost Abstract on ETH Layer 2

by

As a long-term crypto investor with a deep understanding of the blockchain ecosystem, I am incredibly excited about Igloo Inc.’s latest acquisition of Frame and the potential it holds for Abstract Chain. This move signifies a significant step forward in the evolution of consumer crypto applications, and I believe it will play a pivotal role in bridging the gap between Web2 and Web3.

Igloo Inc., the corporation behind Pudgy Penguins, has recently taken over Frame, a notable figure in the creator economy platform sector. This acquisition will bolster Igloo’s capabilities, particularly in relation to Abstract Chain, an Ethereum Layer 2 blockchain aimed at transforming consumer cryptocurrency applications.

Igloo Incorporated brings on board the Frame team, comprised of founders Cygaar and Beans, who are known for their proficiency in constructing cutting-edge on-chain protocols and NFT projects. Igloo intends to utilize Frame’s abilities to enhance its Abstract Chain by incorporating their innovative solutions.

We’re excited to share the news that we’ve successfully obtained @frame\_xyz, including their talented team, to bolster our efforts in developing @AbstractChain. Together, we aim to create a solid foundation and reach wider audiences, paving the way for mainstream adoption of cryptocurrencies.

— Luca Netz 🐧 (@LucaNetz) June 28, 2024

As a researcher delving into the world of Abstract Chain, I’m excited to share that our main goal is to spearhead a economy built on-chain that values culture and creativity. We aim to magnify creators and foster communities using zero-knowledge proof. Furthermore, we are developing new distribution channels to usher in innovative economic models that encourage greater engagement among people. This initiative aligns perfectly with Igloo Inc.’s broader strategy: to bridge the gap between Web2 and Web3 and make the power of blockchain technology accessible to the masses.

As a crypto investor, I’m excited about Igloo Inc.’s recent acquisition of Frame. With this move, they aim to develop innovative blockchain solutions. Specifically, they plan to champion Decentralized Finance (DeFi) and logistics through Abstract Chain. By embracing a community-driven approach, DeFi will transform the way we manage and interact with decentralized assets, making financial systems more accessible and efficient for all.

Read More

2024-06-29 04:20