Nike Acquires RTFKT and Reddit Files To Go Public in This Week’s Business and Crypto Roundup

While adidas has entered the metaverse with its first NFT drop.

Tech NFT
12,175 Hypes 0 Comments

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. Nike acquired fashion and sneaker NFT site RTFKT

RTFKT was founded in January 2020 by Benoit Pagotto, Chris Le and Steven Vasilev, is known for creating virtual sneaker designs and exclusive collectibles minted as NFTs. The terms of the deal with Nike have not been disclosed.

 

View this post on Instagram

 

A post shared by RTFKT Studios (@rtfktstudios)

2. Elon Musk has been named TIME Person of the Year

“Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth, too,” said TIME‘s editor-in-chief Edward Felsenthal. According to the magazine, the honor is given to somebody “who affected the news or our lives the most, for better, or worse.”

3. Reddit has filed to go public

Reddit has started the process of taking the company public, by filing a confidential S-1 with the Securities and Exchange Commission. “We are in a quiet period, and for regulatory reasons, we cannot say anything further,” the company added.

4. Meta has acquired the rights to its name for $60 million USD

South Dakota-based Meta Financial Group confirmed to Forbes that it sold Meta trademark assets to a group linked to Facebook. The social network recently rebranded as Meta.

5. Spatial has shifted its focus to creating NFTs and free social spaces in the metaverse

Former AR/VR collaboration platform Spatial is shifting its focus to NFTs and is working to create a free and open metaverse. “Why? Because the metaverse will be far beyond a meeting space,” the company said in a statement.

 

View this post on Instagram

 

A post shared by Spatial (@spatial_io)

Crypto

1. Michael Jordan and his son have launched a new platform for athletes in web3

The new holding company called Heir Inc. is focused on connecting athletes and creators to their fans through web3. The platform will offer an exclusive Heir token built on the Solana blockchain that will give fans special access to digital assets and first-person NFT drops.

2. Adidas has officially entered the metaverse with its first collaborative NFT collaboration

The adidas NFT drop is called Into the Metaverse and provides owners with exclusive access to various adidas Originals experiences and products. The NFTs will serve as an access pass to in-virtual land experiences as well as free collaborative merchandise.

3. A $300,000 USD Bored Ape NFT accidentally sold for $3,000 USD because of a typo

Bored Ape Yacht Club NFT valued at 75 Ether — or about $300,000 USD — accidentally sold for .75 Ether — about 3,000 USD — because of a typo. Bored Ape #3547 was mislisted by its original owner and sold instantly.

4. Universal Music Group is turning its entire artist roster into digital avatars to bring music to the metaverse

Universal Music Group has announced that it is teaming up with Genies to bring its global roster of music artists to the metaverse via digital avatars. The global partnership “will equip artists with official virtual identities for use in Web 3.0 and the shifting age of the Internet.”

5. Former MLB athlete-turned-artist Micah Johnson is creating change through his NFTs

In February 2021, Johnson debuted his crypto-native NFT character named Aku, which has generated over $10 million USD in sales to date. Read more about his venture and future plans here.

Read Full Article

What to Read Next

NASA Launches Webb Telescope and Beeple Says We’re Already in the Metaverse in This Week’s Business and Crypto Roundup
Tech NFT

NASA Launches Webb Telescope and Beeple Says We’re Already in the Metaverse in This Week’s Business and Crypto Roundup

While Instagram plans to “double down” on video content in 2022.

Apple Hits Record Revenue and Twitter Reconsiders Elon Musk’s Offer in This Week’s Business and Crypto Roundup
NFT

Apple Hits Record Revenue and Twitter Reconsiders Elon Musk’s Offer in This Week’s Business and Crypto Roundup

While Bored Ape Yacht Club’s ApeCoin soared.

Elon Musk Offers $40B for Twitter and Tesla Plans To Mine Bitcoin in This Week’s Business and Crypto Roundup
Tech 

Elon Musk Offers $40B for Twitter and Tesla Plans To Mine Bitcoin in This Week’s Business and Crypto Roundup

While Bored Ape Yacht Club released vinyl collectibles with SUPERPLASTIC.


Apple Unveils New Devices and Yuga Labs Buys CryptoPunks in This Week’s Business and Crypto Roundup
Tech 

Apple Unveils New Devices and Yuga Labs Buys CryptoPunks in This Week’s Business and Crypto Roundup

While HYPETALKS returns this Monday at 8 p.m. ET with Azuki to discuss community building in web3.

PUMA and The Marathon Clothing Honor Nipsey Hussle With New Capsule
Fashion

PUMA and The Marathon Clothing Honor Nipsey Hussle With New Capsule

Inspired by the tracksuit Hussle wore during the Victory Lap campaign.

adidas Originals' Metaverse NFT Collection Sells Out Almost Immediately
NFT

adidas Originals' Metaverse NFT Collection Sells Out Almost Immediately

Generating over $23 million USD (6,000 ETH) in revenue.

Louis Vuitton Unites With LEGO To Build a Birthday Cake Celebrating House Founder
Design

Louis Vuitton Unites With LEGO To Build a Birthday Cake Celebrating House Founder

Made from 31,700 LEGO bricks.

'Slam Dunk' Film Receives a New Visual
Entertainment

'Slam Dunk' Film Receives a New Visual

Hinting at some new elements of the story.

Bobby Shmurda Sees Green in “Shmoney” Music Video Featuring Quavo and Rowdy Rebel
Music

Bobby Shmurda Sees Green in “Shmoney” Music Video Featuring Quavo and Rowdy Rebel

Marking the Brooklyn rapper’s fourth single this year.


Sole Mates: Emeric Tchatchoua and the colette x Busy P x Nike Air Force 1 Low
Footwear 

Sole Mates: Emeric Tchatchoua and the colette x Busy P x Nike Air Force 1 Low

How humble beginnings birthed a designer and sneakerhead that puts messaging and equality before hype.

Dior Appoints Kylian Mbappé as Its New Global Ambassador
Fashion

Dior Appoints Kylian Mbappé as Its New Global Ambassador

Becoming the face of Kim Jones’ men’s collections and Sauvage perfume. 

COSTS Adds Astronomical Engravings to the G-SHOCK DW 5600
Watches

COSTS Adds Astronomical Engravings to the G-SHOCK DW 5600

Sporting a mystic-inspired watchband.

OVO Partners With Sherwood for Hockey Equipment Capsule
Fashion

OVO Partners With Sherwood for Hockey Equipment Capsule

Everything from equipment bags to OVO-branded helmets.

Y-3 Reinvents Classic Silhouettes With AJATU Collection
Footwear

Y-3 Reinvents Classic Silhouettes With AJATU Collection

Including a new take on the Nizza.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.