• 13 July, 2024
News

Pudgy Penguins and OverpassIP Launch Parent Company Igloo for Web3 Ecosystem

Pudgy Penguins, known for their popular NFT project, and OverpassIP, an NFT licensing platform, have revealed the establishment of their new parent company, Igloo. This strategic step aims to build a complete system for new users to join the crypto world without reducing ownership, prioritizing ease of use over cryptocurrency values.

According to an official announcement on X, Igloo seeks to provide a comprehensive user experience that facilitates mass adoption of cryptocurrency. The company emphasizes that its primary goal is not tied to the fluctuations in crypto asset prices but rather on building an infrastructure that supports seamless entry into the crypto world.


The prominent NFT brand Pudgy Penguins, which has built a strong emotional connection with its community since its launch in 2021, will serve as the initial entry point for Igloo’s ecosystem. OverpassIP will enhance collector participation through its licensing capabilities, further integrating users into the crypto space.

What Are Utility NFTs and Why Are They Important? 

Igloo also teased an upcoming project that will fulfill its goal of providing a seamless user experience to introduce cryptocurrency to more people. This project will be revealed in the next few months, representing a major stride toward achieving the company’s larger goals.

Pudgy Penguins has grown beyond digital platforms by teaming up with big stores such as Walmart and Target. Last month, they also announced a collaboration with Mythical Games to develop a fun mobile game, set to launch gently in 2025. This move is all part of Pudgy Penguins’ plan to make their brand more familiar to everyday consumers.

According to Foresight News, Igloo is positioned above Pudgy Penguins, OverpassIP, and an undisclosed entity, suggesting a broader scope of operations within the Web3 space. The company’s Medium page elaborates on its mission to build a mainstream Web3 IP ecosystem and infrastructure, supporting on-chain brand building and consumer engagement.

The creation of Igloo reflects a strategic consolidation of efforts by Pudgy Penguins and OverpassIP to advance their objectives in the NFT and crypto spaces. The involvement of an undisclosed entity adds a layer of intrigue, as its role and contribution to Igloo’s vision remain unspecified.

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