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Metaverse Weekly: Brands, Stories, And Investments Dispatched From The Metaverse
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China Digest: RTFKT Studios raises $8m; Foodpanda sets up Taiwan tech hub
a16z x RTFKT, Meta- builder, sneakers. Source: RTFKT Studios
May 5, 2021
Non-fungible tokens (NFTs) startup RTFKT Studios has raised $8 million in a seed round led by Andreessen Horowitz while Asia-focused food and grocery delivery network Foodpanda has opened a new technology hub in Taiwan.
NFTs creator RTFKT Studios raises $8m in seed round
RTFKT Studios, a startup that creates digital goods like collectible sneakers and game skins, announced on Thursday the completion of an $8-million seed funding round led by Silicon Valley’s venture capital (VC) firm Andreessen Horowitz with participation from C Ventures, Galaxy Fund, and others.
NFTs are the next fashion craze, but their environmental impact looms large MAY 03, 2021
NFTs are coming to fashion. What started as a niche idea popular in cryptocurrency circles, and popularized in part through discussions on Clubhouse, the non-fungible token has swiftly taken the worlds of music, art and even fast food by storm. Now, fashion brands across the industry are itching to figure out ways to get in on the NFT craze.
And while it’s true that NFTs can potentially have a benefit for fashion brands, they also come with some weighty costs. Cryptocurrency, in general, is already environmentally costly, and NFTs contribute to that wastefulness. While enticing for their zeitgeisty appeal, NFTs also risk making brands that list sustainability as one of their goals look like hypocrites for supporting them.
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Rapper and designer Kanye West has made a fortune out of his Yeezy brand, with sales generating nearly $1.7 billion in revenue in 2020, according to
Bloomberg.
But before he turned his Adidas collaboration into the phenomenon it is today, West, who was No 2 on
Forbes’ highest paid celebrities list last year, first went to shop with Nike.
The association soon turned acrimonious, eventually ending in 2013 and even inspired West’s 2015 single
Facts, now known as the Nike diss track
. I took the Adidas deal because I have royalties and I have to provide for my family,” West told New York’s Hot 97 radio station when announcing his separation from Nike, which had never collaborated with a non-sporting personality before the rapper.
This Jeff Staple x Puma Clyde Yin-Yang Collab Shows Support To The Asian Community • KicksOnFire com
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