Pudgy Penguins-backed Abstract to shut down after ‘tens of millions’ in losses

Pudgy Penguins-backed abstract is set to shut down after losing tens of millions of dollars over 18 months, according to Igloo CEO Luca Netz. Despite securing major brand partnerships and building a large community, the company failed to find product-market fit.

Sources

• Cointelegraph — Pudgy Penguins-backed Abstract to shut down after ‘tens of millions’ in losses

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