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Pudgy Penguins and OverpassIP Establish Parent Company Igloo

23/06 16:54

According to Foresight News, NFT series Pudgy Penguins and its NFT licensing platform OverpassIP have jointly established a parent company named Igloo. This new entity is positioned above Pudgy Penguins, Overpass, and another undisclosed entity. As per the official Medium page of Igloo, the company is in the process of building a mainstream Web3 IP ecosystem and infrastructure. This is being done to support on-chain brand building and consumer engagement. The establishment of Igloo signifies a strategic move by Pudgy Penguins and OverpassIP to consolidate their operations and further their objectives in the NFT space. The details of the undisclosed entity involved in this arrangement have not been revealed yet. The role and contribution of this entity to the newly formed Igloo remain a subject of speculation. The creation of Igloo and its focus on building a Web3 IP ecosystem indicates a growing trend in the NFT market. It highlights the increasing importance of on-chain brand building and consumer engagement in the digital asset space. The move also underscores the potential of NFTs beyond art and collectibles, extending into the realm of brand building and consumer interaction.

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