It's so over

We are so back

October 01, 2023

gm,

Club happenings:

  • Listen to the latest pod on the Chase UK crypto ban, regulatory capture, and our personal feelings about the Blockchain Bachelor and Martin Shkreli.

  • Tomorrow, SmartCon with Chainlink friends! Last min RSVPs here.

  • Save the Date for a virtual AMA with Optimism on their retroactive public goods grant round. October 11!

Bye!

The Boys

Writer: Deana

Stuffed. Are NFTs so over or so back? This week Pudgy Penguins, a NFT collection from the 2021 vintage, launched in 2,000 Walmart stores across the United States. The Penguin NFTs are taking the corporeal form of stuffed animals and desk ornaments, with notes of WAGMI and Instagram sign guy. They come with a “Forever Friend Adoption Certificate,” which unlocks access to the Pudgy World digital experience and unique digital traits. Cute, but girl math with me for a sec. With an $8 floor price, they’re going to have to move ~50,000,000 units to reach the $400M in revenue that they did with their digital drops - plus factoring in Walmart’s cut and cost of goods. No shade but damn, the game is different in meatspace.

Giving Szn. Global asset management firm Van Eck achieved the coveted Big Zaddy status this week when they announced that they were going to be donating 10% of the profits on their ETH ETF to a collection of Ethereum developers for the next 10 years. Go off! For context, Van Eck is not some new money shenanigan. They were established in 1955, and put the Trad in TradDaddy. The signal on this type of firm going in on decentralized public goods funding is, as the internet puts it, incredibly f*cking based.

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