đš BREAKING NEWS: Pudgy Penguinsâ Abstract becomes second Ethereum layer 2 to shut in a week
The company behind Pudgy Penguins, the digital collectibles and toy brand, is closing its Abstract blockchain after losing âtens of millions of dollarsâ funding it, becoming the second Ethereum-linked network in less than a week to announce a shutdown.
Abstract will stop operating Dec. 15. The team has told users to move their assets before then, warning that funds left on the network would become inaccessible.
Abstract is a so-called layer-2 network, a separate system that handles transactions cheaply and sends batches to Ethereum for verification. It launched in January 2025 with a bet that the Pudgy Penguinsâ audience could bring ordinary consumers into cryptocurrency applications.
Pudgy Penguins began as a collection of cartoon penguin NFTs, digital collectibles whose ownership is recorded on a blockchain. It ranks among the most valuable NFT collections and has grown into a global brand spanning toys, games and merchandise, with products sold by retailers including Walmart and Target.
đ [Äá»c toĂ n bá» bĂ i viáșżt táșĄi báșŁn gá»c](https://www.coindesk.com/tech/2026/10/07/pudgy-penguins-abstract-becomes-second-ethereum-layer-2-to-shut-in-a-week)
đ° Nguá»n: đȘ CoinDesk
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The company behind Pudgy Penguins, the digital collectibles and toy brand, is closing its Abstract blockchain after losing âtens of millions of dollarsâ funding it, becoming the second Ethereum-linked network in less than a week to announce a shutdown.
Abstract will stop operating Dec. 15. The team has told users to move their assets before then, warning that funds left on the network would become inaccessible.
Abstract is a so-called layer-2 network, a separate system that handles transactions cheaply and sends batches to Ethereum for verification. It launched in January 2025 with a bet that the Pudgy Penguinsâ audience could bring ordinary consumers into cryptocurrency applications.
Pudgy Penguins began as a collection of cartoon penguin NFTs, digital collectibles whose ownership is recorded on a blockchain. It ranks among the most valuable NFT collections and has grown into a global brand spanning toys, games and merchandise, with products sold by retailers including Walmart and Target.
đ [Äá»c toĂ n bá» bĂ i viáșżt táșĄi báșŁn gá»c](https://www.coindesk.com/tech/2026/10/07/pudgy-penguins-abstract-becomes-second-ethereum-layer-2-to-shut-in-a-week)
đ° Nguá»n: đȘ CoinDesk
$BTC $ETH #BinanceSquare #CryptoNews
