Yuga Labs Launches Mudwater TCG Cards, but NFT Market Slump and Competition from Established IPs Lead to a Tepid Market Response (Previous: Blur’s frontend to be discontinued on November 12; Yuga Labs warns of NFT contract authorization risks) (Background: In response to Sony cutting discs and Nintendo clarifying that it would “never abandon physical media,” Switch 2’s digital share has nevertheless surged to 61.5%) Table of Contents Toggle Mudwater Cards Go Live: 71% Airdropped to BAYC/MAYC Holders Floor Price Freezes: Mudwater Trading Data Disappoints Battle Mechanism Goes Live: Linked to APE Reflection Rewards Established IP Monopoly: Pokémon Accounts for 79% of the Market Airdrop Limitations: Difficult to Attract External Capital

US-listed XRP exchange-traded funds ended a 13-week inflow streak as four major cryptocurrency ETF categories recorded $575.91 million in net withdrawals for the week ended Oct. 16. SoSoValue data showed XRP funds lost $1.84 million, reversing $11.31 million in inflows a week earlier. Ethereum led w