Pudgy Penguins-Backed Ethereum L2 Abstract to Shut Down Dec. 15

A consumer-facing L2 with a recognizable NFT brand behind it closing after losses of this scale is a reminder that chain-level survival depends on usage, not backing or branding. The immediate pressure sits with anyone still holding assets on Abstract, since the bridge deadline is the only concrete step disclosed. What remains unclear is whether this is an isolated case or a signal that smaller, non-differentiated L2s are entering a consolidation phase as activity concentrates on a handful of networks.