In a strategic partnership, Pudgy Penguins, one of the top Non-Fungible Token (NFT) projects and the NFT licensing platform OverpassIP have come together to form Igloo Inc. as their parent company. This alliance was set to build a comprehensive ecosystem for beginners in the crypto world while maintaining ownership rights.
Igloo to Revolutionize Crypto Adoption
This announcement was made on Igloo’s official social media account X. In its post, the firm emphasized that its primary focus is not on crypto asset prices but on delivering a seamless user experience for widespread adoption.
Igloo Inc, was formed to create an end-to-end ecosystem for new people to come into crypto, non-dilutively.
However, our desire for crypto adoption is not predicated on the fluctuation of crypto assets, but rather, on pushing the boundaries of the onchain experience. pic.twitter.com/2aW2dPkYqQ
— Igloo (@IglooInc) June 22, 2024
Furthermore, the “Fat Penguin” NFT brand will serve as the initial entry point into its ecosystem, capitalizing on the emotional connection people already have with the brand.
Subsequently, OverpassIP will further promote collector engagement through licensing. Igloo also hinted at a new project, aiming to enhance the crypto user experience in the near future.
This new venture was launched amid the recent drop in the prices of NFTs. It was reported last week that Bored Ape NFTs and Pudgy Penguins among others recorded losses in their valuations.
Pudgy Penguins: From NFT Newbie To A Trendsetter
Ever since the platform was introduced, it has evolved into one of the trendiest NFT collections. It has been actively collaborating with various partners to expand its brand and reach.
The collaboration journey began with securing retail partnerships with Walmart and Target. This comes as it broadened its reach beyond the Web3 realm and extended its presence to Web2.
Recently, news surfaced last month that the Pudgy Penguins Intellectual Property (IP) is teaming up with game developer Mythical Game. The duo hopes to create an engaging mobile video game that is set for a preliminary launch in 2025.
This further showcases Pudgy Penguins’ commitment to engaging with its audience across different platforms.
Despite the unusual price devaluation, Pudgy Penguins currently hold a floor price of 8.57 Ethereum (ETH) with a total trading volume of 396,047.23 ETH according to CoinmarketCap data.
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