According to Odaily, the consumer-focused crypto application Abstract has announced the launch of its testnet on platform X. This testnet, supported by ZK Stack, operates as a Layer 2 solution on the Ethereum Sepolia testnet. Developers can utilize this testnet to test their applications, ensuring smooth operations before the mainnet launch of Abstract later this year.
In related news, Igloo, Inc., the parent company of Pudgy Penguins, has successfully raised over $11 million in a funding round led by Founders Fund. Other participants in the round include Distributed Capital, 1kx, Everest Ventures Group, and Selini Capital. Igloo plans to use this strategic funding to develop its new venture, Cube Labs. Cube Labs will oversee and contribute to the development of Abstract, a new blockchain focused on consumer applications aimed at mainstreaming crypto adoption. Abstract is incubated by the non-profit Abstract Foundation, with the goal of bringing billions of people onto the blockchain for the first time. The testnet for Abstract is expected to go live soon.