The Past Week in Crypto News (Dec. 8th - 15th): Nike Acquires RTFKT and More

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Michael Caloca / ONE37pm

Welcome to the new edition of “The Past Week in Crypto News", a weekly recap of companies, institutions, organizations, and individuals who are beginning to adopt crypto as a payment/work platform. With the crypto industry becoming more and more dynamic, this weekly report is meant to help you stay in the loop. The last few days saw crypto becoming more mainstream, implemented by some of the world’s most prominent organizations across different industries.

1. Pepsi launches NFT collection

Earlier this week, Pepsi launched its own NFT collection. In honor of the year it was founded (1893), the brand released 1893 NFT pieces with unique designs. In order to do so, the company partnered with VaynerNFT. The NFT pieces were redeemable through a link, which made it possible for interested parties to join the waitlist. Pepsi is one of the biggest brands to join the NFT space, and will surely influence other brands to think about joining the space and grow the crypto industry as a result. 

2. Miami’s Mayor Francis Suarez announces plan to convert part of his 401(k) savings into Bitcoin

Francis Suarez, the pro-Bitcoin Mayor of Miami, has announced his plan to convert a part of his retirement account in Bitcoin. After receiving part of his salary in Bitcoin earlier this year, Suarez stated that “Bitcoin is an asset I believe in. It is a personal choice.” He also announced plans that would make it possible for Miami residents to pay for administrative procedures in Bitcoin.

3. Nike acquires RTFKT Studios

Nike, the world’s largest apparel company, has acquired NFT company RTFKT (pronounced “Artifact”) Studios. The acquisition was announced by RTFKT on Twitter. RTFKT is a digital wearables collection company that has launched numerous hyped drops throughout 2021 and earlier. They recently collaborated with famous artist Takashi Murakami. This development comes days after Adidas collaborated with Bored Ape Yacht Club, signaling that apparel companies see potential in the digital wearables space. 

4. Florida Governor announces plan to allow citizens to pay state fees in Bitcoin

Florida’s Governor Ron DeSantis plans to allow citizens of the state of Florida to pay for state fees in Bitcoin. During different administrative procedures, citizens have to pay for the services they are provided. While the norm is fiat, it seems that the state of Florida is looking to become a Bitcoin hub, and this move is just one more step in that direction. If this were to become implemented, it would represent a new development in the space due to the size of Florida’s population and economy. 

5. Snoop Dogg launches his metaverse house; people spend six figures to become his neighbor

Snoop Dogg is building his metaverse home on top of the Sandbox platform. The rapper-entrepreneur announced that his digital land sold for over $458000. This means that someone paid that money to become Snoop Dogg’s digital neighbor. "Metaverse" has become one of the hottest buzz-words, but the hype seems to be as real as ever, with staggering amounts of money being spent and very influential figures now getting involved in the space.

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