Igloo Inc. company
Overview
Igloo Inc. is the parent company behind the Pudgy Penguins NFT brand, the Abstract Ethereum Layer 2, and the Overpass NFT licensing platform. It is led by Luca 'Netz' Schnetzler, who has been CEO of Igloo since 2021 and of Pudgy Penguins since 2022, and who is also credited as a co-inventor of Abstract. The company's origin traces to January 2022, when the Pudgy Penguins community voted to oust the collection's original founders; the same day, Netz publicly offered 750 ETH — roughly $2.5 million at the time — for the entire collection along with its intellectual property rights. Igloo's strategy has been to convert an NFT collection into a consumer brand with revenue outside crypto: Pudgy Toys and Pudgy World are stocked in 2,000 Walmart stores in the United States, and the brand reports 37 billion GIF views and millions of toys sold. The company was reported to be 'on track' for $50 million in revenue for the year, and Netz's stated ambition is to make Pudgy Penguins 'the Mickey Mouse of Web3'. Igloo Inc. was formed around Luca Netz's January 2022 acquisition of the Pudgy Penguins collection and IP for 750 ETH following a community vote against the original founders. It has since expanded into physical toys distributed through Walmart, the Overpass licensing platform, and its own Layer 2 blockchain, Abstract.
Within the DeFi Intel graph, Igloo Inc. connects to 7 tracked entities, most strongly to Pudgy Penguins, Abstract Chain, PENGU.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 7 of 7 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Pudgy Penguins | 95% |
launched | Abstract Chain | 95% |
launched | PENGU | 95% |
launched | Luca Netz | 95% |
headquartered_in | United States | 85% |
partnered_with | The Sandbox | 70% |
funded_by | Paradigm | 50% |
Frequently asked questions
What is Igloo Inc.?
Igloo Inc. is a nft_studio tracked in the DeFi Intel knowledge graph. It is connected to 7 other tracked entities, most strongly to Pudgy Penguins, Abstract Chain, PENGU.
What type of entity is Igloo Inc.?
Igloo Inc. is classified as a nft_studio (company) in the DeFi Intel knowledge graph.
What is Igloo Inc. connected to?
In the DeFi Intel knowledge graph, Igloo Inc. is linked to 7 other tracked entities, most strongly to Pudgy Penguins, Abstract Chain, PENGU.
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