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The Chubby Penguins L2 | Without a bank
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NFT roundup
Chubby Penguins L2
Last weekend, the Pudgy Penguins hosted Igloo inc.its new parent company, and then today this new company welcomes its first acquisition: Frame.
This NFT-centric L2, which was distinguished by its own integrated liquidity and fee system called Palette Protocol, will now form the basis of a new L2 culture called Abstract This should focus on powering mainstream crypto applications in general, not just Pudgy-related efforts.
“In my opinion, L2s are the rails of the chain cultural economy,” runs Pudgy Penguins. Luca Netz said in the news. “To power this economy, you need community, culture, and distribution, and I don’t think anyone in crypto does those three things better than we do.”
All that said, as the dust settles on the acquisition, we’re left to ponder the big questions, like what will abstract tokenomics look like? What will the first applications of L2 be? And when will the mainnet launch?
Only time will tell for now, but at least Abstract shows us that the minds behind Pudgy Penguins have much bigger ambitions than simply dominating the ETH NFT scene!
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