Abstract Seeks Funding to Scale EVM and iOS Efforts

Abstract seeks new funding round for EVM and iOS expansion, aiming to lower Web3 entry barriers and leverage the Pudgy Penguins community.

On July 18th, Luca Netz, CEO of Pudgy Penguins, announced Abstract’s pursuit of additional funding to expand EVM and focus on iOS developments. This venture highlights an organic user acquisition approach through the Pudgy brand, as remarked by Joey Krug, partner at Founders Fund.

Abstract Pursues Funding for EVM and iOS Expansion

Luca Netz, CEO of Pudgy Penguins, announced Abstract’s pursuit of additional funding to expand EVM and focus on iOS. The potential investment aligns with efforts to lower Web3 entry barriers and leverage the Pudgy Penguins community.

Abstract’s new funding initiative, led by Luca Netz, aims to incorporate community participation. The organization seeks to enhance the Ethereum Virtual Machine (EVM) alongside a focus on iOS development. This strategy emphasizes expanding applications via the Abstract portal.

Impact and Immediate Implications of this funding include improved user accessibility and heightened engagement within the Web3 ecosystem through strategic community involvement. Market Reactions have been mixed, with some industry leaders supporting community-driven growth. Founders Fund partner Joey Krug mentioned the organic user acquisition strategy through the Pudgy brand as a pivotal approach.

Community Engagement Central to Funding Strategy

Did you know? The Pudgy Penguins brand has gained significant traction in the NFT space, becoming a notable player in community-driven projects.

Recent data on Ethereum (ETH) reveals a current trading price of $3,633.76, with extensive market activity. The 24-hour trading volume is $55.85 billion, signifying a 13.99% change. Over 90 days, ETH experienced a notable 126.82% price increase, reflecting strong market dynamics (source: CoinMarketCap).

Coincu analyst insights suggest future financial movements might focus on community-driven adoption trends and potential tech expansions, riding on Pudgy Penguins’ robust NFT engagement model, reflecting similar strategic alignments in established Layer 2 protocols.