Top Business and Crypto Stories of The Week: January 21

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. Nike has revamped its supply chain in a four-part action plan

Keys to its transformation include opening several regional distribution centers across the U.S. and Europe, leveraging technology to deliver products faster and more precisely, optimizing recycled packaging and investing in career development. More information about Nike’s supply chain transformation can be found on its website.

2. Microsoft is acquiring Activision Blizzard for $68.7 billion USD

According to the terms of the deal, Microsoft is paying $95 USD per share for Activision Blizzard. The deal now means that Microsoft is the world’s third-largest gaming company by revenue.

3. Netflix reported slower subscriber growth in its Q4 earnings report

The platform’s global paid net subscriber additions were 8.28 million versus the predicted 8.19 million. Netflix’s shares sunk more than 20% in after-hours trading.

4. GUESS taps designer Eli Russell Linnetz for its rebrand

Linnetz has worked with a wide array of talent from Kanye West to Lady Gaga and has been tasked with shooting the campaign for a new line of products. The redesign is meant to “re-establish who we are as a company,” said GUESS USA director of brand partnerships, Nicolai Marciano.

5. LVMH invests in New York-based 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 including ClarksDrake’s and New Balance. LVMH Luxury Ventures will take a minority stake in the label, with the value of the deal currently undisclosed.

Crypto

1. AMC gave out free NFTs to its shareholders

AMC Investor Connect is a program designed for self-identified AMC shareholders. The exclusive NFT drop features a gold embossed medallion that says: “I Own AMC.”

2. Prada and adidas collaborate on first-of-its-kind user-generated NFT initiative

The new project is titled ‘adidas for Prada Re-Source’ and will include user-generated and creator-owned art inspired by the two parties’ recently-dropped physical Re-Nylon collaboration. 3,000 digital images that are crafted by folks within the worlds of fashion, design and crypto will mint as their own individual NFTs and that will be assembled into a giant artwork 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 their profile pictures. NFTs are displayed in a special hexagonal shape, indicating authenticity and proof of ownership.

4. New York City Mayor Eric Adams will receive his first paycheck in cryptocurrency

Last year, the mayor pledged to take his first three paychecks in crypto. His salary is slated to be converted to both Bitcoin and Ethereum.

5. Robinhood is testing out crypto wallets

Robinhood is beta testing crypto wallets for those that are trading on its platform. Aside from 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.