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Today’s update is 361 words, 1.8 minute
🚙 Tesla staff move to Apple: Apple has recruited Christopher ‘CJ’ Moore, Tesla’s director of autopilot software, to work on its top-secret self-driving car and other software projects. He is the latest in a line of senior staffers who have moved from Tesla to Apple’s car division. Engadget →
₿ Bitcoin battle: In a bid to position New York City as capital of the US cryptocurrency industry, the city’s new mayor has announced that he plans to take his first three paychecks in bitcoin. A game of one-upmanship? Miami’s mayor has similar ambitions for his own city, and recently revealed he would take his next paycheck in bitcoin. CNBC →
😴 Can sleeping late be harmful? We all understand the importance of a good night’s sleep. But is there such a thing as too much sleep? Apparently so. Researchers at the Washington University School of Medicine believe it may result in cognitive decline. The Conversation →
💸 What’s in a name? Quite a lot, it seems. A number of (former) venture capital funds have become ‘registered investment advisors’ (RIAs). With more flexibility but significantly higher compliance costs, the RIA route is interesting but is unlikely to become an industry-wide trend. Protocol →
Virtual Shoe Dogs
What’s the deal: Nike is expanding its presence in the metaverse with new hires and virtual-focused trademarks.
A spate of virtual-focused trademark applications and new senior hires by sportswear giant Nike suggests that the company is looking to build a strong virtual brand and thereby develop a robust strategy for the metaverse.
Why it matters: No question, the metaverse is the theme of the moment. Many offline brands start experimenting with digital collectables.
Coca-Cola for example is offering a series of NFTs, one of which is a pixelated facsimile of Coke’s 1956 vending machine.
Our take: As more and more experiences migrate to the virtual world, brands must consider how they will position themselves.
At this point, it’s unclear when the metaverse will become mainstream. As a result, brands must begin investigating digital goods now while remaining patient.
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