November 27, 2024
Animoca Brands, a global leader in digital entertainment and blockchain technology, has announced a strategic investment in Igloo, the parent company of Pudgy Penguins. This move highlights Animoca’s focus on advancing consumer crypto adoption and supporting projects that demonstrate strong growth potential. Pudgy Penguins, an NFT-based intellectual property, has established itself as a leading brand in the Web3 ecosystem.
Igloo also contributes to the development of AbstractChain, a blockchain designed to optimize direct distribution in the consumer crypto market. This collaboration aims to enhance the blockchain’s capacity to support digital goods and intellectual property, aligning with Animoca’s broader vision of building open metaverses.
This investment underscores Animoca’s commitment to fostering innovative blockchain projects and NFT ecosystems. By backing Igloo Inc. and AbstractChain, Animoca seeks to drive consumer-oriented blockchain applications, reinforcing its position as a pioneer in Web3 advancements.
About Igloo
Igloo is the parent company behind Pudgy Penguins, a leading NFT-based intellectual property that has gained significant traction within the Web3 space. The company is also a contributor to AbstractChain, a blockchain focused on enabling direct distribution for consumer crypto applications. Igloo Inc. aims to enable creators and users through blockchain solutions and engaging digital experiences.
Website: https://pudgypenguins.com
X: @IglooInc
About Investor
Animoca Brands
Animoca Brands is a global leader in digital entertainment, blockchain, and gamification. The company focuses on building open metaverse ecosystems and empowering users through true digital ownership of assets. It has an extensive portfolio of investments and projects, including games, decentralized platforms, and blockchain solutions.
Location: Hong Kong
Website: https://www.animocabrands.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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