Igloo Inc., the parent firm behind the popular NFT project Pudgy Penguins, acquired the on-chain creator economy platform Frame. The terms of the deal were not revealed.  

The purpose of the acquisition is to develop Abstract Chain, a layer-2 network designed for on-chain culture and communities, Igloo Inc. CEO Luca Netz explained on the social media platform X.

The Frame team will now join Igloo. "By combining forces, we will provide the infrastructure and distribution necessary to usher crypto into the consumer crypto revolution," Netz added.

Frame develops infrastructure such as the permissionless creation of NFT marketplaces that enforce creator royalties. The platform also allocates some of its layer-2 gas fees to support creators, according to the firm's website.