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. You’re here reported $18.7 billion in first-quarter revenue
Revenue reached US$16.86 billion and gross profit reached US$5.54 billion. CEO Elon Musk said he was confident that 2022 would again be a landmark year for Tesla.
2. Netflix announced a loss of 200,000 subscribers in the first quarter
The drop sent its stock down more than 20%. It’s the streamer’s first drop in subscribers in more than a decade, with the last reported loss occurring in 2011.
3. Elon Musk’s The Boring Company hit a $5.6 billion valuation
The latest round of funding raised $675 million and seeks to expand plans and focus on “scaling up Loop, a system that will transport passengers through high-speed tunnels.” Loop aims to be a high-speed, all-electric, zero-emission underground public transportation.
The Boring Company just raised $675 million at a valuation of $5.675 billion from top-tier investors.
The goal is to recruit amazing people, increase drill production and build thousands of miles of tunnels.https://t.co/BpSE9syuGs— The boring company (@boringcompany) April 21, 2022
4. Billionaire François Pinault plans to buy music streaming platform Deezer
Pinault and two other I2PO members plan to buy Deezer for around $1.16 billion and take the company public. Currently, the deal allows the combined entity to raise at least €120 million from initial investors.
5. NASA, SpaceX and Amazon team up to develop space communication devices
NASA, alongside six American companies, will begin developing “near-Earth space communication services” that it could use in the agency’s future missions. The combined value of the agency’s agreement, called the Communications Services Project (CSP) Funded Agreement, is US$278.5 million.
Crypto
1. Coinbase is launching a beta version of its NFT marketplace
The cryptocurrency trading app says its NFT Marketplace will be a peer-to-peer Web3 social platform, with the goal of making it easier to collect, create, and connect to NFT communities. The Ethereum-based platform will be open to users in the United States, with access granted based on their position on the Coinbase NFT waitlist.
?ATTN: INTERNET?
Our beta is officially live!
Today we’re kicking things off with a full access experience for some of our waitlist frens. As we progress, everyone can explore the vast collection of NFTs on the first version of Coinbase NFT.
Check it out → https://t.co/gJxOOi8P15 pic.twitter.com/wYx3z3d14x
– Coinbase NFT (@Coinbase_NFT) April 20, 2022
2. The Sandbox is reportedly seeking new funds to reach a valuation of US$4 billion
The company is looking to raise $400 million in its next funding round, according to Bloomberg. The platform is an open-world metaverse that allows users to buy and sell digital assets in the form of NFTs.
3. AMC Mobile App Now Accepts Dogecoin, Shiba Inu Coin and More
CEO Adam Aron said the payment system will be powered by Bitpay, Apple Pay, Google Pay and Paypal. The feature is available in the latest version of the app.
Exactly as promised, the AMC Mobile App for US Theaters from AMC now accepts online payments using Doge Coin, Shiba Inu and other cryptocurrencies – thanks to Bitpay. Also Apple Pay, Google Pay and Paypal. To do this, you will first need to update to the latest version of our app. pic.twitter.com/MMy7SIxYbl
— Adam Aron (@CEOAdam) April 15, 2022
4. Nike and RTFkt launched their first Cryptokick
The mysterious RTFKT monolith has been revealed to contain a pair of virtual sneakers dubbed Nike Cryptokicks. They are based on the vintage Nike Dunk silhouette and will be customizable with eight skins made by RTFKT.
MNLTH #1 Artifact Info?
RTFXT x Nike Dunk Genesis?
The first RTFKT x Nike CryptoKicks NFT Sneaker imagined for the year 2052: composed of flexible screens, a Galactic Exploration outsole and Mods, powered by the Revolutionary Skin Vial Tech ?? pic.twitter.com/gn7A5mBG1e— RTFTK Studios (@RTFKTstudios) April 22, 2022
5. Sir Mix-A-Lot shared his thoughts on the web3
Ahead of the 30th anniversary of “Baby Got Back,” the artist spoke to HYPEBEAST about his NFT project “Bit Butts” and empowering artists. Read the full interview here.
