Top Business and Crypto Stories of the Week: May 6

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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. SpaceX’s Dragon Capsule successfully returned NASA astronauts to Earth

After six months of working in an orbiting lab, the four astronauts that made up the Crew-3 mission have safely returned to Earth from the International Space Station. The crew rode back on SpaceX’s Crew Dragon Endurance, the same capsule that brought them to space on its debut flight in November.

2. SoundCloud acquires AI music software

SoundCloud has acquired Musiio, an artificial intelligence imprint focused on creating technology that can “listen” to music and better predict a song’s success. The acquisition will allow SoundCloud to further utilize its vast data to pinpoint up-and-coming trends in music and discover rising talent on its artist-first platform.

3. Drake has signed a new deal with Universal Music Group

Drake has signed a new deal with Universal Music Group covering “multiple creative lanes and revenue streams.” Universal Music Group chairman and CEO Lucian Grainge confirmed the news during the label’s Q1 earnings call, stating that the wide-ranging deal includes recordings, publishing, merchandise and visual media projects.

4. Wikipedia is no longer accepting cryptocurrency donations

In a new update posted by the foundation, Wikipedia said that it will no longer accept payments through Bitpay after taking into account feedback from its community. “The Wikimedia Foundation has decided to discontinue direct acceptance of cryptocurrency as a means of donating,” it wrote.

5. Binance invested $500 million USD in Elon Musk’s Twitter takeover

The equity fund will form part of a $7 billion USD financing pledge from a range of firms, which all seek to realize Web3 and integrate blockchain into more mainstream use. “We’re excited to be able to help Elon realize a new vision for Twitter,” Zhao told CNBC.

Crypto

1. Gucci will accept crypto payments at select U.S. stores

The luxury brand will accept a variety of cryptocurrencies — mostly stablecoins, including Bitcoin, Ethereum, Bitcoin Cash, Wrapped Bitcoin, Litecoin, five coins pegged to the US dollar, and two “memecoins” including Shiba Inu and Dogecoin. “Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” said Gucci’s president and CEO, Marco Bizzarri, in a statement.

2. The NBA released a dynamic NFT series called “The Association”

Made in conjunction with FRANCHISE, the collection features 30,000 NFTs being minted during the postseason — 125 editions per player across the 16 playoff teams. Each is issued as a blind-mint, which means that nobody will know which player they will receive prior to the reveal.

3. McLaren announces MSO LAB metaverse venture

Last month, the luxury British automaker announced MSO LAB. Now, MSO LAB’s first round of NFTs, dubbed the “Genesis Collection,” are set to release with one of the marque’s most iconic cars at the center of the drop.

4. Dominique Ansel bakery releases Cronut NFT collection

New York City’s Dominique Ansel Bakery by James Beard Award-winning pastry chef Dominique Ansel, is set to launch a “Cronut(R)” NFT collection. The series of limited-edition serves to help mark the ninth birthday of the iconic pastry created by Chef Dominique Ansel.

5. HYPETALKS will dive into the Karafuru x Hypebeast x Atmos NFT project

Karafuru started with a Gensis Collection of 5,555 NFTs that comprised of 12 characters. Its upcoming 3D collection of 15,555 with HYPEBEAST and atmos is a step closer to the Furu metaverse.

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