Igloo Inc., the digital asset incubation studio and the team behind the globally acknowledged Pudgy Penguins non-fungible token collection, has announced plans to launch its highly anticipated Abstract blockchain network. This much-awaited blockchain network in the NFT market will launch this coming Monday, January 27, 2025. The Pudgy Penguins NFT team started developing its blockchain network sometime in June 2024.
Igloo Sets To Launch Its Abstract Mainnet Next Week
In a January 25 blog post, Luca Netz, the chief executive officer of Igloo. Inc. confirmed that his team will launch the highly anticipated Abstract Layer 2 network this coming Monday, January 27, 2025. The upcoming Ethereum Layer Two network, Abstract, is expected to be the largest blockchain network for crypto and non-fungible token consumers. The Pudgy Penguins NFT creator will join top NFT projects, such as Yuga Labs and Blur, which have also developed their L2 networks.
Revealed in June 2024, Igloo Inc. is a digital asset incubation studio and cartoon toys brand. The NFT company is renowned for launching some of the leading NFT collections, including Pudgy Penguins, a non-fungible token collection featuring a fixed set of 8,888 cute penguins hosted on the Ethereum network, and Lil Pudgy, a non-fungible token collection featuring a limited edition 22,222 NFTs originating from Pudgy Penguins.
In June last year, the Pudgy Penguins’ parent company acquired the on-chain creator platform Frame to develop a Layer 2 network Abstract Chain designed specifically for on-chain culture and community. Pudgy Penguins’ Abstract is a zero-knowledge (ZK) L2 built on the Ethereum blockchain network. The upcoming Abstract L2 network is built using the ZK stack, a standardized and open-source development solution for ZK rollups built by ZKsync, which gives it some interesting superpowers.
Moreover, the upcoming Abstract L2 network will be Ethereum Virtual Machine-compatible, allowing developers to migrate their smart contracts from other EVM-compatible blockchain networks. In addition, the upcoming Abstract Layer Two network will submit validity proofs to the Ethereum mainnet, proving and authenticating the validity of the transactions that occurred on the Ethereum Layer Two network. The Abstract has already undergone several tests to prove its viability.
Pudgy Penguins Jumps 48% In Daily NFT Sales Volume
The Pudgy Penguins NFT collection has reacted sharply to the Luca Netz announcement. In the past 24 hours, the NFT collection has amassed a trading sales volume of $4.1 million, up 48% from the previous day. During this period, its sister NFT collection, Lil Pudgy, has also soared in anticipation of the Abstract Mainnet launch. In the past 24 hours, Lil Pudgy has recorded a trading sales volume of $998,942, up 27% from the previous day.
Source: cryptoslam.io, pudgy penguins NFT trading sales volume in the past 24 hours
The upcoming Abstract Layer Two blockchain network will join the burgeoning L2 landscape, in which Arbitrum, an ultimate Layer 2 scaling solution designed to enhance the Ethereum experience; Base, an Ethereum Layer from crypto exchange Coinbase; Blast, an Ethereum Layer 2 network created by Blur NFT marketplace and ApeChain, an Ethereum Layer two network created by the Bored Ape Yacht Club community, are currently the biggest Ethereum-based Layer twos in the world in terms of total value locked.
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