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Cryptocurrency News Articles

In building Pudgy Penguins, Igloo Inc. have turned a dud into one of the world’s biggest NFT collections.

Mar 02, 2025 at 09:00 pm

With watchful eyes locked on their every move, they’re now looking to build a mainstream-ready blockchain. That blockchain is the Abstract Chain.

Igloo Inc., the company behind the Pudgy Penguins NFT collection, has launched its own blockchain, named Abstract.

The chain, which is an Ethereum Layer-2, aims to be consumer-focused with "culture & community building and dedicated builder & brand support" central to how the chain is being built, developed and maintained. It will also utilise zero-knowledge technology from zkSync and EigenDA to make this consumer-focused approach possible.

This stands in contrast to many other blockchains, which tend to be built with a primary focus on developers and maximalist utility, instead of the consumer experience which will drive the long-term success of any blockchain.

The Abstract Chain is also set to feature a native token – though details on this token, including the ticker, have yet to be revealed. Since its mainnet launch, Abstract has featured its Abstract XP system. This rewards users with XP points for using Abstract apps, doing Abstract transactions, and being active in the Abstract ecosystem. These XP points are expected to translate into an allocation of Abstract's future native token.

Pudgy Penguins and the metaverse

A suite of popular apps, tools and services already support Abstract. This includes NFT marketplaces such as Magic Eden, exchanges such as Uniswap, and services such as Seedify.

The chain is also set to be the home of future Pudgy Penguins experiences, such as their Vibes TCG. This makes Abstract Chain a core party of the Pudgy Penguins ecosystem long-term.

Popular games and NFT collections on Abstract include 77-Bit, Onchain Heroes, and Abstract Pepes.

What is Abstract Chain?

Abstract is an Ethereum Layer-2 blockchain, developed by Igloo Inc. and launched in January 2025.

The Abstract Chain is the inaugural new project from the Igloo Inc. company. Its aim is to create “the dominant consumer crypto chain”, where “culture & community building and dedicated builder & brand support” are central to how the chain is built, developed and maintained.

This stands in stark contrast to many other blockchains, which are typically built with a primary focus on developers and maximalist utility. In the case of Abstract, the consumer experience is being placed front and center, with architectural and design decisions made with what the user will experience as the primary driving force.

In addition to this consumer-focused approach, Abstract is also set to utilize zero-knowledge technology from zkSync and EigenDA to power its chain. This will enable Abstract to offer the same level of security, reliability and decentralisation that is well-known from Ethereum, despite being an optimistic rollup chain.

The Abstract Chain will be powered by a native token – though details on this token, including the ticker, have yet to be revealed. Since its mainnet launch, Abstract has featured its Abstract XP system. This rewards users with XP points for using Abstract apps, doing Abstract transactions, and being active in the Abstract ecosystem. These XP points are expected to translate into an allocation of the future Abstract ecosystem token.

The Igloo Inc. company is also planning to introduce a Builder Incubator programme where major products can obtain direct support from the Abstract team. This is part of a focus on building “the dominant consumer crypto chain”, where top-tier builders are given the best possible platform.

By giving these teams the tools, support and infrastructure they need, Abstract hopes to become home to the next-generation of powerful Web3 apps.

Key facts about Abstract Chain:

Mainnet launch date: January 27, 2025

Optimistic rollup chain

Minimalist and consumer-focused design

Features a native XP system and an Abstract-focused mobile app

Will be powered by a native token

Announced integration with Magic Eden, Uniswap and other popular Web3 services

What is Abstract Chain used for?

The Abstract Chain is designed to be a user-friendly and engaging platform for a variety of Web3 use cases. Some of the most common and interesting uses of Abstract include:

Popular NFT collections on Abstract

Among the first NFT collections to mint on Abstract were Bearish and Pixelady Maker. Both of these collections saw their floor price drop below their mint price, leading to frustration amongst Abstract supporters.

In the following weeks and months, many additional apps, tools and services arrived on Abstract. This includes the likes of Roach Racing Club, BUZZ, Top Hat, Kabu and Finalbosu.

What are the advantages and disadvantages of Abstract Chain?

The Abstract Chain offers several advantages over other blockchains. Some of the main advantages include its consumer focus, integration with popular services, and minimal setup time. However, it’s important to highlight some of the disadvantages as well.

Advantages of Abstract Chain:

Consumer-focused and designed with the user experience in mind

Integrates seamlessly with Magic Eden, Uniswap, and other preferred services

Short minimal chain setup time and an efficient user interface for rapid transactions

Disadvantages of Abstract Chain:

Despite

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Other articles published on Apr 04, 2025