Many brands are beginning to see a recovery despite the challenges initially posed by the pandemic. Some companies, especially those that have focused their efforts on expanding e-commerce businesses, have even seen their profits increase even more than before.
HYPEBEAST has rounded up the best business and crypto stories of the week so you can stay on top of trends across industries.
Business
1. Nike reorganized its supply chain in a four-pronged action plan
Keys to its transformation include opening multiple regional distribution centers in the United States and Europe, using technology to deliver products faster and more accurately, optimizing recycled packaging, and investment in career development. More information about Nike’s supply chain transformation can be found on its website.
2. Microsoft acquires Activision Blizzard for US$68.7 billion
Under the terms of the agreement, Microsoft is paying $95 per share for Activision Blizzard. The deal now means Microsoft is the world’s third-largest games company by revenue.
We join the @Xbox family.
Find out what this means for our iconic games and gaming communities: https://t.co/abPxlb37kA pic.twitter.com/Z8sVgsjScz
— Activision Blizzard (@ATVI_AB) January 18, 2022
3. Netflix reported slower subscriber growth in its fourth quarter earnings report
The platform’s global paid subscriber net additions were 8.28 million versus the planned 8.19 million. Shares of Netflix fell more than 20% in after-hours trading.
4. GUESS taps designer Eli Russell Linnetz for rebranding
Linnetz has worked with a wide range of talent, from Kanye West to Lady Gaga, and was tasked with shooting the campaign for a new product line. The redesign aims to “reestablish who we are as a company,” said GUESS USA Director of Brand Partnerships Nicolai Marciano.
5. LVMH invests in the New York label Aimé Leon Dore
Aimé Leon Dore was founded by Teddy Santis in 2014 and has gained a large following for its mainline collections and collaborations with labels such as Clarks, Drake’s and New Balance. LVMH Luxury Ventures will take a minority stake in the label, the value of the operation not being disclosed at this time.
Crypto
1. AMC distributed free NFTs to its shareholders
AMC Investor Connect is a program designed for self-identified shareholders of AMC. The exclusive NFT drop features a gold embossed medallion that reads, “I own AMC.”
$AMC I’m from HODL and mind what’s mine.
Too much belief.
Too many JJs.The following week officially makes a year.
Things are going wonderfully.#NFT ?? pic.twitter.com/ge8ySLjJNz“Russidicule?” Russ Smith (@Spectre_Smit) January 19, 2022
2. Prada and adidas collaborate on the first user-generated NFT initiative
The new project is titled “adidas for Prada Re-Source” and will feature user-generated, creator-owned artwork inspired by the two parties’ recently discontinued physical Re-Nylon collaboration. 3,000 digital images created by people from the worlds of fashion, design and crypto will be minted as their own individual NFTs and assembled into a giant work of art by digital artist and creative coder Zach Lieberman.
3. Twitter Blue launched NFT profile pictures
The feature allows Twitter Blue subscription holders to connect to their crypto wallets and display their NFTs as profile pictures. NFTs are displayed in a special hexagonal shape, indicating authenticity and proof of ownership.
Ready to show off your NFT? Follow these simple steps to connect your crypto wallet and see your NFT PFPs! pic.twitter.com/epSL7VXG5o
— Twitter Blue (@TwitterBlue) January 20, 2022
4. New York Mayor Eric Adams will receive his first cryptocurrency salary
Last year, the mayor pledged to take his first three paychecks in crypto. His salary should be converted to both Bitcoin and Ethereum.
5. Robinhood is testing crypto wallets
Robinhood is beta testing crypto wallets for those who trade on its platform. In addition to being able to store and trade cryptocurrencies with the wallet directly on Robinhood, users will also be able to send and receive coins from external wallets.