Pudgy Penguins parent company acquires Web3 creator platform Frame to build Abstract Chain

Odaily News According to official news, Igloo, the parent company of the NFT project Pudgy Penguins, has acquired the on-chain creator economy platform Frame. The terms of the transaction have not been disclosed, and the Frame team will now join Igloo. According to reports, Frame develops infrastructure, such as the creation of NFT markets without permission to enforce creator royalties. According to the company's website, the platform also uses part of the L2 Gas fees to support creators. The purpose of this acquisition is to develop a Layer 2 network Abstract Chain designed specifically for on-chain culture and community to create a new era driven by cultural economy, create distribution tracks, empower builders, and introduce innovative economic mechanisms on the chain.