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. Amazon officially closed its $8.5 billion USD acquisition of MGM
“The storied, nearly century-old studio — with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards — will complement Prime Video and Amazon Studios’ work in delivering a diverse offering of entertainment choices to customers,” said Amazon in a statement. The transaction was completed after the deal received clearance from the EU’s antitrust regulator.
2. Missoni appointed Filippo Grazioli as its new creative director
The luxury Italian fashion house announced that Filippo Grazioli will be taking over for Alberto Caliri. Grazioli will head up the men’s and womenswear lines while also supervising the brand’s lifestyle sector.
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3. Rihanna’s Savage x Fenty lingerie company is reportedly planning an IPO
According to Bloomberg, Rihanna is eyeing an IPO valued at $3 billion USD. The fashion brand recently raised $125 million USD during a January funding round.
4. Instagram now allows moderators to be added to livestreams
Moderators will have the ability to report comments, remove viewers from Lives and turn off comments for a specific viewer. Users will be able to assign moderators to their Lives by tapping the three-dot icon in the comment section while live streaming.
5. Intel is planning to build a $19 billion USD chip factory in Germany
Located in Magdeburg, the “mega-site” will feature two separate factories slated to begin production by 2027. The new facility in Germany will be one of the first steps towards “creating a next-generation European chip ecosystem and addressing the need for a more balanced and resilient supply chain.”
Crypto
1. Bored Ape Yacht Club creators have launched a crypto token
ApeCoin ($APE) will be independent of Yuga labs and controlled by a decentralized community called the ApeCoin DAO. It will initially be used as an in-game token for Yuga Labs titles, and future ApeCoin sales will be used to fund various digital and physical projects.
2. HSBC has entered the metaverse through a partnership with The Sandbox
Following J.P. Morgan’s move into Decentraland last month, HSBC has just acquired a 3×3 LAND site. It will later use the plot to connect with sports, esports and gaming enthusiasts.
3. AMBUSH® launched a metaverse space called SILVER FCTRY
The space is titled AMBUSH® SILVER FCTRY, titled after Andy Warhol‘s creative studio Silver Factory. Users can access the space by visiting the brand’s website, where they are transported into a futuristic spacecraft as an avatar dressed in a spacesuit.
4. Instagram will soon introduce NFTs to the platform
“We’re working on bringing NFTs to Instagram in the near term,” Mark Zuckerberg revealed during a talk at SXSW. Last year, Instagram head Adam Mosseri said that the company was “actively exploring” NFTs.
5. HYPETALKS will have a roundtable discussion with the women shaping web3
On Monday, March 21, HYPETALKS will tap Betty and Mec from NFT collection Deadfellaz, WonderPals‘ illustrator and product designer Mina, World of Women art and investment liaison Dani Ton, and Maliha Abidi, founder of Women Rise, to discuss representation in the digital world. The panel will tackle issues of how to create a more equitable metaverse and build NFT projects that reflect a range of experiences.
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