The Pudgy Penguins L2
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Last weekend, Pudgy Penguins welcomed Igloo Inc., its new parent company, and then today this new company welcomed its first acquisition: Frame.
This NFT-centric L2, which was notable for having its own in-built liquidity and royalties system called Palette Protocol, will now form the basis of a new culture L2 named Abstract that's to be focused on powering consumer crypto apps in general, not just Pudgy-related efforts.
"In my opinion, L2s are the rails for the onchain culture economy," Pudgy Penguins lead Luca Netz said on the news. "To fuel this economy, you need community, culture, and distribution, and I believe nobody in crypto does those 3 things better than us."
All this said, as the dust settles on the acquisition, we're left to ponder the big questions, like what will the Abstract tokenomics look like? What will the L2's first apps be? And when will the mainnet launch drop?
Only time will tell for now, but at the very least Abstract shows us that the minds behind Pudgy Penguins have much bigger ambitions beyond just dominating the ETH NFTs scene!
📰 General news
- Base Token Store added support for NFT buys
- Metaplex added MPL-404 to its public repository
- Rainbow introduced ETH Rewards
🎨 Cryptoart & music
- Audius established licensing agreements with all U.S. Performing Rights Organizations
- Rhea Myers auctioned Portents, her first Ordinals art release
🏆 Digital collectibles
- Magic Eden is launching a mempool protection feature for Ordinals traders
- Truth Arts unveiled Portals, a cross-chain bridging service for Goblintown NFTs
🎮 Decentralized gaming
- Axie Infinity plans to launch a Premium Bounty Board in July 2024
- Parallel unveiled 3 new Onchain Summer '24 mints
- Primodium published its Battle of the Droids update
📱 Onchain social
- Offline Oracles rebranded to Oracles Social
- Warpcast introduced in-app payments
🪙 NFTfi
- Flayer, a new NFT liquidity protocol, published its whitepaper
- GONDI reached $30M in active NFT loan debt
- Uniswap added support for Zora Network
🌐 Virtual worlds
- Decentraland kicked off its Game Expo '24 event
- Nifty Island launched Wave 3 of its $ISLAND Play-to-Airdrop campaign
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