Steam Bans Blockchain Games and WeWork Made Its Public Debut in This Week’s Business and Crypto Roundup

While Facebook Is reportedly preparing to change its name.

Tech 
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Many brands are starting to see a recovery despite the challenges initially brought on by the pandemic. Some businesses, especially ones that focused efforts on expanding e-commerce ventures, have even seen profits rise even higher than before.

HYPEBEAST has rounded up the top business and crypto stories of the week so you can stay in the know about trends across industries.

Business

1. WeWork made its public debut on the New York Stock Exchange

WeWork went public on Thursday, with shares closing at $11.78 USD, a 13.5% increase. The shared workspace company now trades on the New York Stock Exchange under the ticker symbol “WE.”

2. Brand accelerator Tomorrow acquires a majority stake in Martine Rose

U.K. brand accelerator Tomorrow has acquired a majority stake in London-based menswear line Martine Rose. As part of the deal, Tomorrow will now act as a collaborator and global licensing partner for Martine Rose, while Rose will receive an undisclosed stake in the Tomorrow business.

3. Burberry hired Jonathan Akeroyd as CEO

Burberry has hired the so-called “turnaround expert” Jonathan Akeroyd as its chief executive officer, replacing Marco Gobbetti who is set to join Salvatore Ferragamo. Akeroyd has a history of transforming brands into mega-labels, including Alexander McQueen and Versace.

4. Facebook Is reportedly preparing to change its name

Facebook is preparing for a rebrand to better reflect its focus on developing the metaverse, The Verge reported on Tuesday. According to the outlet, CEO Mark Zuckerberg plans to reveal the name change at the company’s upcoming Connect conference on October 28.

 

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5. The richest 10% of Americans now own nearly all available U.S. stocks

The wealthiest 10% of Americans own 89% of all of the stocks available in the U.S., according to CNBC, citing the latest data from the Federal Reserve. CNBC explained that the richest 1% of Americans gained over $6.5 trillion USD in corporate equities and mutual fund wealth during the pandemic.

Crypto

1. Playboy unveils its NFT project titled ‘Rabbitars’ 

Playboy has released a series of NFTs called “Rabbitars,” a collection of unique, non-fungible rabbits inspired by Playboy’s iconic bunny logo. 11,593 “Rabbitars” will be offered, paying homage to Playboy’s founding year of 1953.

 

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2. Valve has banned all blockchain games and NFTs from Steam

The new policy change comes in the form of an added rule to Valve’s list of things developers can’t publish on Steam. It explains that programs “built on blockchain technology that issue or allow exchange of cryptocurrencies or NFTs” are no longer permitted on the world’s largest PC video game store

3. A CryptoPunks owner refused a $9.5 million USD offer to buy his avatar

A Canadian crypto developer, who goes by Richerd, recently refused an offer to sell his CryptoPunk NFT for 2,500 Ethereum — about $9.5 million USD. He explained that the digital collectible is “not for sale,” no matter the offer.

4. Bitcoin reached an all-time high after the launch of its first US exchange-traded fund

Bitcoin on Wednesday soared past $65,000 USD to set a new all-time record. Bitcoin received a significant boost after the release of the ProShares Bitcoin Strategy ETF (exchange-traded fund), which launched on the New York Stock Exchange under the ticker “BITO.”

5. WorldCoin, a new cryptocurrency, wants to give everyone free crypto — if they scan their irises

People can claim their free coin by proving that they’re human and that they have not already received their portion of Worldcoin — a problem the company says it addressed by building a new device called “the Orb.” According to CNBCWorldcoin has already amassed 100,000 users globally.

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What to Read Next

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adidas Is Entering the Metaverse and Square Changes Its Name To Block in This Week’s Business and Crypto Roundup

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Givenchy Is Releasing NFTs and Nvidia Reported Record Revenue in This Week’s Business and Crypto Roundup
Tech 

Givenchy Is Releasing NFTs and Nvidia Reported Record Revenue in This Week’s Business and Crypto Roundup

While a group of crypto investors tried to buy a rare copy of the U.S. Constitution.

Valve Has Banned All Blockchain Games and NFTs on Steam
Gaming

Valve Has Banned All Blockchain Games and NFTs on Steam

But Epic is welcoming the innovation.


Blockchain Game Studios Pen Open Letter to Valve Following Announcement of Crypto-Based Titles Ban
Gaming

Blockchain Game Studios Pen Open Letter to Valve Following Announcement of Crypto-Based Titles Ban

“Decentralization with cryptocurrency is often misunderstood and viewed as a threat to the status quo.”

LMNTS Keeps It Minimal For Second Silhouette
Footwear

LMNTS Keeps It Minimal For Second Silhouette

“Technical minimalism in its purest form”.

Telfar Taps Moose Knuckles For Puffer-Inspired Capsule
Fashion

Telfar Taps Moose Knuckles For Puffer-Inspired Capsule

Slated to launch next month.

Instagram is Testing New Tools to Help Creators Find Sponsors
Tech

Instagram is Testing New Tools to Help Creators Find Sponsors

Including a dedicated “partnerships” inbox.

CASETiFY Taps Group of Artists For Latest Care Collection
Tech

CASETiFY Taps Group of Artists For Latest Care Collection

In honor of Breast Cancer Awareness Month.

Karhu’s Four-Piece “Ursa Major” Pack Is Out of This World
Footwear

Karhu’s Four-Piece “Ursa Major” Pack Is Out of This World

Comprising an Aria 95, Synchron Classic and two Legacy 96 silhouettes.


Microsoft and AMD are Giving Away a 'Halo Infinite'-Themed Radeon RX 6900 XT Graphics Card
Gaming

Microsoft and AMD are Giving Away a 'Halo Infinite'-Themed Radeon RX 6900 XT Graphics Card

They’re also working together to bring ray-tracing into the game.

WorldCoin Wants To Give Everyone Free Crypto if They Scan Their Irises
Tech 

WorldCoin Wants To Give Everyone Free Crypto if They Scan Their Irises

The company promises that the system is secure and that it will not be storing people’s data. 

UK Brand Accelerator Tomorrow Acquires Majority Stake in Martine Rose
Fashion 

UK Brand Accelerator Tomorrow Acquires Majority Stake in Martine Rose

The London-based menswear brand will also receive an undisclosed stake in the Tomorrow business.

Rapper SoFaygo and SoundCloud Premiere Documentary ‘Let’s Go Faygo’
Music

Rapper SoFaygo and SoundCloud Premiere Documentary ‘Let’s Go Faygo’

Created as part of the “First on SoundCloud” artist accelerator program.

Harry Rosen Is Providing Warmth and Style With Its Winter Apparel Drop
Fashion 

Harry Rosen Is Providing Warmth and Style With Its Winter Apparel Drop

Presented by Harry Rosen
The luxury retailer has released a wide range of cold weather staples.

More ▾
 
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