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. Epic Games received a $2 billion USD cash injection from Sony and KIRKBI
Both Sony and LEGO Group owner KIRKBI contributed $1 billion USD each. Sony said the investment was aimed at building out Epic Games’ metaverse ambitions.
2. Elon Musk made an unsolicited offer to buy Twitter for $40 billion USD
Musk said in an SEC filing that he was offering to buy 100% of Twitter for $54.20 USD per share in cash. “Twitter has extraordinary potential. I will unlock it,” he added.
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
3. Facebook and Google joined Stripe’s $925 million USD initiative for carbon capture
The Frontier Program is a subsidiary of Stripe that is focused on using the earnings made from transactions to further develop carbon capture technology. E-commerce giant Shopify and consulting firm McKinsey have also joined the program.
4. Vans sued MSCHF over its new “Wavy Baby” sneaker
MSCHF’s new shoe in collaboration with Tyga made its debut last week. The lawsuit claims trademark infringement, false designation of origin and unfair competition, in addition to trademark dilution.
Wavy Baby is a limited edition art project in collaboration with @mschf, the art collective
together, we designed something to embrace but also critique current day sneaker culture pic.twitter.com/ixrOvMgCsr
— T-Raww (@Tyga) April 7, 2022
5. Meta will take a nearly 50% cut of creator fees in its VR game Horizon Worlds
The company said it’s currently testing out new tools that will enable creators to derive an income from things they build in the game. The company’s cut will comprise of a “hardware platform fee” of 30% for sales made through the Meta Quest Store and Horizon Worlds will charge a 17.5% fee.
Crypto
1. Tesla is planning to mine Bitcoin using solar energy
According to Reuters, the EV maker will be partnering with payments firm Block Inc and blockchain company Blockstream. The move could help tackle Bitcoin’s heavy environmental impact.
2. Bored Ape Yacht Club and SUPERPLASTIC released vinyl collectibles
The vinyl art toys, called “SuperBored,” are produced by SUPERPLASTIC and feature caricatures used in the BAYC universe. The timed open edition drop has since sold out.
SUPERPLASTIC x @BoredApeYC STARTS DROPPIN RIGHT TF NOW. Click Here ? https://t.co/ycbwk0vaSP pic.twitter.com/qTf29w3n6m
— SUPERPLASTIC (@superplastic) April 14, 2022
3. Coinbase is producing a trilogy series about Bored Ape Yacht Club
The three-part film will pay homage to the Bored Ape Yacht Club community and was conceived by the entertainment team at Coinbase. BAYC holders can submit their apes to the Degen Trilogy website for a chance to be cast.
4. The “Aku World” NFT project will release avatars called “Akutars”
The new “Akutar” releases will grant holders access to “Akuverse,” the project’s digital and physical metaverse concept. The first collection will be released on April 22 with collaborations from streetwear brands like Billionaire Boys Club, Ice Cream, Paper Planes, PUMA, Upscale Vandal and WHO DECIDES WAR.
“Base” Akutars.
Which one is your favorite? pic.twitter.com/XhMBpnmq5J
— Aku :: Akutars (@AkuDreams) April 13, 2022
5. The CFDA has announced a metaverse and NFT educational program
Working alongside The Sandbox and Polygon Studios, the CFDA is establishing a web3 blueprint for American fashion. The CFDA hopes to grow its creative community in the digital world and focus on the mission to educate and innovate future users.
wazup.