Abstract Chain, the consumer-focused Ethereum layer 2 built by Igloo, the parent company of Pudgy Penguins, will shut down on December 15, 2026. The chain processed over 325 million transactions and reached 4 million wallets, but Igloo stated it funded the project for about 18 months and lost tens of millions of dollars. Unlike fungible tokens supported by the native bridge, NFTs will not be moved automatically and will require specific actions depending on each project. Collectors must inventory their wallets, withdraw assets from apps, and verify official migration plans for each collection before the cutoff date.
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