October 9-13: This week in NFTs, recapped in one letter

Gm,

The Uptober… hasn’t been living up to its name so far. Just as we were sending out the newsletter last Friday, Yuga announced “a restructuring”, which essentially meant layoffs. In the mean time, crypto and NFTs haven’t been going up only either…

But that’s okay. After all, we’ve been in a bear market for 1.5 years, what’s another few weeks, right? (inhales hopium)

For now, let’s just call it Artober. We’ve had a lot of great art doing well recently, with Winds of Yawanawa and Beef Brothko being the first examples that come to mind.

Also, this week we’re celebrating Art Blocks because all of their 150+ collections are now browseable on Rarible.com, thanks to the recent Rarible Protocol update. Did you know that Snowfro sold some of his free claimed zombie punks for $200 each to fund the development for Art Blocks? And it was well worth it, as it has since turned into a generative NFT art powerhouse some of whose collections have already made history not in the context of web3, but contemporary art at large. Click on the link below to read the story:

And by the way, unlike PFPs, Art Blocks index have been up this year despite the bear market! Yet again, we find out that NFTs aren’t dead. Shocking, right?

HV-MTL rewards be like (context):

If you’re feeling stressed about the market, read this:

• Polygon has proposed to create an L2 ‘ApeChain’

• DeGods’ Frank announces ‘The Comeback’

• CrypToadz NFT sells for 1,055 WETH ($1.6 Million)

• Pudgy Penguins’ Luca Netz shares a thread on his entrepreneurial journey amidst “rug pull” accusations

Always do your own research.