Igloo, Inc., the parent company of the Pudgy Penguins NFT collection, has secured $11 million in funding to establish Cube Labs. This initiative will oversee and further contribute to the development of Abstract, a new blockchain aimed at driving mass adoption.
Founders Fund led the funding round with participation from Fenbushi Capital, 1kx, Everest Ventures Group, and Selini Capital.
Joey Krug, Partner at Founders Fund, commented on Pudgy Penguins’ unique distribution strategy and the growth potential of Abstract as a consumer L2 platform. Abstract aims to streamline the development of decentralized apps to make them more accessible, affordable, and secure. The Abstract Foundation provides resources for building and brand support to facilitate adoption.
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Abstract Team
