In Brief:
- On Oct. 8, Digitoys confirmed it will shift its digital toy collectibles onto another blockchain, following a wind-down notice from its home network, Abstract.
- Abstract — the Ethereum layer-2 built by Igloo, the company behind Pudgy Penguins PENGU $0.008126 ▼ -18.1% — goes offline Dec. 15, and anything still sitting on the chain will become unreachable.
- No destination chain has been revealed. Because NFTs cannot pass through Abstract’s standard migration tools, collectors must rely on the project itself to relocate their collections.
Digitoys is leaving Abstract. The digital toy platform announced on Oct. 8 that the blockchain it calls home is winding down operations and that it plans to move to a different chain, one it has yet to identify.
“Abstract, our current blockchain, is winding down and as a result Digitoys will be migrating to a new chain,” Digitoys said in a post on X. “In the meantime, your collection is safe, accessible, and Digitoys will keep working just the way it does today. We’ll have more details to share soon.”
Abstract, our current blockchain, is winding down and as a result Digitoys will be migrating to a new chain.
In the meantime, your collection is safe, accessible, and Digitoys will keep working just the way it does today.
We'll have more details to share soon.
Thank you for@DigitoysView on X ↗
Digitoys had no say in the matter. Abstract — the Ethereum layer-2 built by Igloo Inc., parent of Pudgy Penguins — announced on Oct. 6 that it will shut down on Dec. 15. “Any funds not bridged by this date will be inaccessible,” the network said in its own statement.
No destination revealed yet
The platform gave neither a timeline nor a shortlist of potential successors, leaving holders with nothing more than a pledge that updates are on the way.
For NFT collectors, far more rides on this than it does for token holders. Abstract's Migration Hub and native bridge are built for ETH and ERC-20 tokens. “NFTs, unsupported tokens, staked or locked assets, liquidity positions, collateral, escrow, and assets held through an application may require action outside the Migration Hub,” the hub’s terms state. A collector cannot simply bridge a Digitoys toy on their own. The project has to move it or reissue it.
Abstract’s engineering and ecosystem team has committed to working with projects on the network to help them relocate.
A network that never achieved product-market fit
Luca Netz, Igloo’s CEO, said the company bankrolled Abstract for 18 months and burned tens of millions of dollars in the process. Mainnet went live in January 2025, following a July 2024 raise of more than $11 million in a round led by Founders Fund.
“Unknown to most, Igloo, Inc. had been funding Abstract over the last 18 months,” Netz said. “After losing tens of millions of dollars over two years, building consumer products, assembling an all-star team, onboarding some of the biggest brands in the world, and building a community of millions, we still had not found product-market fit.”
The network attributed its downfall to stalled growth, shallow liquidity, a constrained DeFi ecosystem and minimal institutional crossover. It noted that upwards of 144 apps had deployed on it and that more than 400,000 users had been onboarded through brand partnerships with the likes of Red Bull Racing and Disney.
Igloo weighed issuing a token to keep the network afloat but ultimately rejected the idea. The company will now channel its resources into Pudgy Penguins and PENGU.
Rumors about the chain’s fate had been swirling for weeks, stoked by an uncommunicative official account and reports that two senior team members exited in August.
A growing list of chain shutdowns
Abstract is at least the third network to announce it is shutting down since late September. Blast revealed on Oct. 2 that it would wind down after operating costs outpaced revenue. Mint Chain issued a comparable statement in late September. Botanix, a Bitcoin-focused network, said back in June that it was closing after failing to achieve sufficient product-market fit.
The toys on the line
Run by OnChain Studios, Digitoys was previously known as Cryptoys. Its blind boxes each hold a random digital collectible toy, mixing licensed Disney and Star Wars characters with the company’s own Zoo-F-O Escape brand. The toys come in three tiers — Adventurer, Elite and Hero — and seven rarity levels, running from Common up to Ultra Grail.
Cryptoys went live on Abstract in November 2025, letting collectors register with an email or social login rather than setting up a wallet. The project also operates a marketplace known as the Digital Toy Exchange.
Netz ended his own announcement with few illusions. “There will be many that will find satisfaction in seeing this shut down, and that is fine,” he said. “I take a great amount of pride in having the ambition to venture into the chain business, notoriously one of the most difficult to make work, and the only regret I have is not being able to celebrate a win alongside the Abstract community.”