Mmastodon BusinessCrypto first seen 7 h ago, last 7 h ago, peak #12

Pudgy Penguins' Ethereum layer-2 Abstract shutting down December 15

Original: 📉 Abstract echa el cierre: la L2 de # Ethereum de Igloo Inc. (#PudgyPenguins) se apaga el 15 de diciembre. Deja 325M de

Igloo Inc., the company behind Pudgy Penguins, is shutting down Abstract, its Ethereum layer-2 network, on December 15. The chain processed 325 million transactions and roughly $6 billion in decentralized exchange volume, but generated only about $40 million in revenue. Observers say the shutdown shows consumer-focused crypto products struggle to sustain themselves on their own.

Why now: The closure of a high-profile celebrity NFT brand's blockchain despite large transaction volume is fueling debate about the viability of consumer crypto ventures.

Igloo Inc.AbstractPudgy PenguinsEthereum

Open on mastodon →

Evidence

• 📉 Abstract echa el cierre: la L2 de # Ethereum de Igloo Inc. (#PudgyPenguins) se apaga el 15 de diciembre. Deja 325M de transacciones y $6.000M en volumen # DEX , pero solo $40M de ingresos. El consumer # crypto no aguanta en solitario. · WhisprNews

API: https://socialmediatrends-api.osmike.com/v1/trends/1378422