In Brief:
- Digitoys said Oct. 8 that it will migrate its digital toy collectibles to a new blockchain after Abstract, its home network, announced a wind-down.
- Abstract, the Ethereum layer-2 built by Pudgy Penguins PENGU $0.008136 ▼ -17.6% parent Igloo, shuts down Dec. 15. Assets left on the chain will be inaccessible.
- Digitoys hasn’t named its destination. NFTs can’t move through Abstract’s standard migration tools, so holders depend on the project to relocate their collections.
Digitoys is leaving Abstract. The digital toy platform said Oct. 8 that its home blockchain is winding down and that it will move to a new chain, one it has not named.
“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
The move was forced. Abstract, the Ethereum layer-2 built by Pudgy Penguins parent Igloo Inc., said Oct. 6 that it will shut down on Dec. 15. “Any funds not bridged by this date will be inaccessible,” the chain said in its own announcement.
No destination named
Digitoys offered no timeline and no shortlist of candidates. Holders got little more than a promise of news to come.
The stakes are different for NFT collectors than for token holders. Abstract’s Migration Hub and native bridge handle 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 say. A Digitoys toy can’t simply be bridged by its holder. The project has to move it or reissue it.
Abstract’s engineering and ecosystem team has said it will work with projects on the network to help them relocate.
A chain that never found product-market fit
Igloo funded Abstract for 18 months and lost tens of millions of dollars in the process, CEO Luca Netz said. The chain launched its mainnet in January 2025, after Igloo raised more than $11 million in July 2024 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.”
Abstract blamed stagnant growth, thin liquidity, a restricted DeFi ecosystem and limited institutional crossover. The chain said more than 144 apps were deployed on it and more than 400,000 users were onboarded through partnerships with brands including Red Bull Racing and Disney.
Igloo weighed launching a token to keep the network alive and decided against it. The company will now put its resources behind Pudgy Penguins and PENGU.
Speculation about Abstract’s fate had circulated for weeks, fueled by a quiet official account and reports that two senior team members departed in August.
A widening list of shutdowns
Abstract is at least the third network to announce a shutdown since late September. Blast said Oct. 2 it would wind down because operating costs exceeded revenue. Mint Chain made a similar announcement in late September. Botanix, a Bitcoin-focused network, said in June it was closing after failing to find sufficient product-market fit.
The toys at stake
Digitoys, formerly known as Cryptoys, is operated by OnChain Studios. Its blind boxes contain a random digital collectible toy, with licensed characters from Disney and Star Wars alongside its own Zoo-F-O Escape property. Toys come in three tiers, Adventurer, Elite and Hero, and seven rarities running from Common to Ultra Grail.
Cryptoys launched on Abstract in November 2025, letting collectors sign up with email or social logins instead of a wallet setup. The project runs a marketplace called the Digital Toy Exchange.
Netz closed 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.”
