Igloo Inc.: The New Crypto Company Betting Big on NFTs

• Pudgy Penguins and OverpassIP have unveiled Igloo as a parent company.
• Igloo aims to create an end-to-end ecosystem for new people to come into crypto.
• Pudgy Penguins will serve as the brand to funnel users into Igloo’s ecosystem.

Pudgy Penguins, the popular NFT brand, and OverpassIP, a leading NFT licensing platform, have united under a new parent company, Igloo Inc., aiming to revolutionize the crypto experience for newcomers.

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

The newly introduced company announced to the crypto community that its mission is to create the largest on-chain community, fueling the consumer crypto revolution. Igloo emphasized its desire for crypto adoption not based on the fluctuation of crypto assets, but on enhancing the on-chain experience.

According to Igloo, Pudgy Penguins will serve as the flagship brand for its ecosystem. It identifies the NFT project as a key attraction, noting its potential to create an emotional connection with a brand that people are familiar with and trust.

Igloo further highlighted that its goal extends beyond creating a lasting blockchain ecosystem. The company announced it will introduce more functionalities in the coming months to realize its vision of creating an end-to-end user experience to bring crypto to the masses.

Pudgy Penguins launched in 2021 as an NFT project and has since grown into a prominent brand in the sector. As part of its expansion, the NFT project has secured partnerships with retail giants Walmart and Target. Last month, the project announced a partnership with Mythical Games, a renowned gaming developer, to develop immersive mobile-based video games, with a soft release scheduled for 2025.

Data shows that Pudgy Penguin’s floor price is around 9.13 ETH, equivalent to $30,700, as of the time of writing. The NFT project’s market cap is about $274 million, with a 24-hour trading volume of $1 million.

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