On-chain data shows that shortly after Abstract announced it was shutting down, a newly created wallet withdrew $1 million from Kraken and quickly used the funds to buy 25 Pudgy Penguins NFTs on the market. As of publication, the wallet still held ETH worth $766,000. At the same time, the Pudgy Penguins floor price stood at 3.3 ETH, up 6.8% over the past 24 hours. Pudgy Penguins CEO Luca Netz also said in a post that Abstract is being wound down in stages, and that parent company Igloo Inc. will now direct all of its efforts toward the development of Pudgy Penguins, Pudgy NFTs, and PENGU. The activity came soon after the shutdown notice and was highlighted through on-chain tracking.
According to on-chain data cited by Odaily, a newly created wallet withdrew $1 million from Kraken shortly after Abstract announced it was shutting down, then moved quickly to buy 25 Pudgy Penguins NFTs on the market.
As of publication, the wallet still held ETH worth $766,000. The Pudgy Penguins floor price was 3.3 ETH, with a 24-hour gain of 6.8%.
Netz says Igloo will shift its focus
Pudgy Penguins CEO Luca Netz said in a post that Abstract is being gradually closed, and that parent company Igloo Inc. will, effective immediately, shift all of its attention to the development of Pudgy Penguins, Pudgy NFTs, and PENGU.
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