Nike Reports Revenue Growth and Yuga Labs Hits $4 Billion USD Valuation in This Week’s Business and Crypto Roundup

While Nothing teased its phone (1).

Tech & Gadgets 
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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. Nike released its fiscal 2022 third-quarter earnings

Nike hit revenues of $10.9 billion USD, a 5% increase compared to the previous year. Sales overall saw increases in direct sales and brand digital sales.

2. Elon Musk has teased details about Tesla’s “Master Plan 3”

“Main Tesla subjects will be scaling to extreme size, which is needed to shift humanity away from fossil fuels, and AI,” he tweeted. He added that the plan will include sections about SpaceX, Tesla and The Boring Company.

3. Lanvin Group plans to go public in a SPAC deal

The fashion conglomerate owns brands like Lanvin, Sergio Rossi, St. John Knits and Wolford. It will be listed on the NYSE under “LANV.”

4. Nothing announces its first cellular device — the phone (1)

The Nothing phone (1) will feature a Qualcomm Snapdragon chipset and run Nothing OS. The The Nothing phone (1) is expected to synergize with the company’s Ear (1) buds to create a technology ecosystem.

5. Shazam has released new concert features

Users will be able to explore an artist’s upcoming live shows and ticketing information by either Shazaming their songs or searching the tracks on the app or website. The Shazam Artist page will also include dates, times and locations of the live shows.

Crypto

1. Yuga Labs hit a $4 billion USD valuation

The Bored Ape Yacht Club creator closed a $450 million USD Series Seed funding round, led by Andreessen Horowitz’s crypto arm, a16z. The funds will likely be used in its upcoming metaverse project Otherside.

2. Ethereum co-founder Vitalik Buterin warned of cryptocurrency’s “dystopian” potential

In a recent interview with TIME, the 28-year-old said that he feels mixed emotions about cryptocurrency. “Crypto itself has a lot of dystopian potential if implemented wrong.”

3. Naomi Osaka becomes the ambassador for crypto firm FTX

Under the agreement, Osaka will act as a global ambassador for the company, obtain an equity stake in FTX Trading Limited and receive compensation in crypto. The brand notes that Osaka’s ambassador duties will largely center on “bringing women onto the platform and into the future of Web3.”

4. Bill Murray is launching an NFT collection of his untold life stories

Each blockchain-backed collectible will include an image of Murray along with a unique story. Murray has either personally recounted each tale or verified previously published stories to photo and streaming imprint The Chive.

5. Gucci launches 10KTF Gucci Grail NFT project with customizable PFPs

As a part of its Gucci Vault, Wagmi-san has partnered with Alessandro Michele to take inspiration from his designs to create outfits and accessories available from the digital shop 10KTF. Brands like Bored Ape Yacht Club, World of Women and Cool Cats have been incorporated into the project.

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