October 2-6: This week in NFTs, recapped in one letter

Gm,

This hasn’t been the most eventful week as far as web3 goes, but it did bring some positive news: NFT market cap is up ~5% since September lows, Pudgy Penguins continue to dominate the market with their retail-oriented narrative, and Nike’s .SWOOSH just announced their first physical token-gated sneaker.

Is Uptober on? Are we (so) back? As usual, only time will tell.

Yes, having a big following on socials doesn’t “benefit holders directly”, but it does help building a strong marketing foundation for the brand:

• Pudgy Penguins +20% after cookies teased; Pudgy Toys are now available in all Smyths Toy Stores across the UK.

• SEC loses appeal in Ripple case

• PROOF announces lay-offs “to adapt to the current market”

• Adidas & Moncler team up for an NFT collection

Revoke unnecessary token approvals.