Igloo to Shut Down Abstract Blockchain by December 2026
- The Abstract blockchain will cease operations on December 15, 2026.
- Igloo cited high operating costs, low liquidity, and a limited DeFi ecosystem as reasons for the shutdown.
- Over the past two years, Igloo invested tens of millions into Abstract without achieving sustainable profitability.
- More than 144 applications were deployed on Abstract, attracting over 400,000 users.
- Users must migrate their assets before the shutdown or risk losing access to them.
After winding down Abstract, Igloo plans to focus resources on Pudgy Penguins and its associated products and tokens. The decision reflects a strategic shift aimed at enhancing user engagement within its NFT ecosystem.
With over $10 million spent in development without sustainable results, Igloo’s transition from Abstract marks a significant pivot towards strengthening its core brand in the crypto space through Pudgy Penguins.(Source)
