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<ul><li><keyword id="27448" type="General" weightage="80" keywordseo="prada" source="Orion">Prada</keyword> is launching its first solo non-fungible token (<keyword id="4668945" type="General" weightage="100" keywordseo="nft" source="Orion">NFT</keyword>) on Thursday, June 2.</li><li>Anyone who purchases one of Prada’s new limited-edition shirts, designed by <keyword id="14098661" type="General" weightage="50" keywordseo="cassius-hirst" source="Orion">Cassius Hirst</keyword>, will get the NFT.</li><li>The exclusive perks and experiences that come along with the NFT will be unveiled on the Prada’s new <keyword id="451967" type="General" weightage="50" keywordseo="discord" source="Orion">Discord</keyword> server once the sale is live. </li></ul> Prada has no plans to get left behind as global luxury brands swarm to the metaverse and make their mark in the web3 world. The marquee Italian fashion designer will <a href="https://www.prada.com/us/en/pradasphere/special-projects/2022/prada-timecapsule.html?utm_source=twitter&amp;utm_medium=social_post&amp;utm_campaign=prada_timecapsule">debut</a> its first solo non-fungible tokens (NFTs) on Thursday, June 2. The NFTs are a part of Prada’s <keyword id="14098662" type="General" weightage="50" keywordseo="timecapsule-initiative" source="Orion">Timecapsule Initiative</keyword>. Each Timecapsule drop is linked to a gender-neutral product and a gifted NFT, which the brand describes as, “A GIF of the capsule video which represents the digital version of the physical item.” The physical part of the drop are black or white button-down unisex shirts – each designed by artist Cassius Hirst, son of NFT artist <keyword id="171262" type="General" weightage="50" keywordseo="damien-hirst" source="Orion">Damien Hirst</keyword>. The shirts are decorated with Cassius Hirst’s signature mask and brain scan designs. The accompanying NFT is a pill that opens to show the same mask and brain scan. To create a community experience, which is an integral part of the narrative around web3, Prada has also jumped onto Discord and set up its own server called ‘<a href="https://www.prada.com/prada-crypted/">Prada Crypted</a>’. This is where Prada will unveil the perks and experiences that will be exclusively available to its NFT owners. <cmsannotation type="cmsannotation" annotationid="The growing ‘phygital’ trend" comment="subhead" text="The growing ‘phygital’ trend">The growing ‘phygital’ trend</cmsannotation> Taking what exists in the physical world, and linking it to a digital experience, is what influencers are calling the ‘phygital’ trend. And, this isn’t Prada’s first foray in this direction. The fashion house launched another NFT earlier this year in collaboration with Adidas. Balenciaga and <keyword id="75186" type="General" weightage="50" keywordseo="gucci" source="Orion">Gucci</keyword>, Prada’s contemporaries in the fashion world, have taken similar initiatives. Balenciaga, the Spanish luxury fashion house, recently launched an animated pixel game and NFT avatar. Gucci, which has the first-mover advantage in terms of fashion entering web3, recently launched ‘Gucci Town’ on Roblox. The platform offers games and virtual handbags to players in exchange for Robux, the virtual currency on Roblox that can be purchased with a credit card. Gucci even has its own Web3 team, called the ‘Dream Big’ team. It is dedicated to experimenting more in the blockchain and crypto area and turning it into a sustainable revenue stream.

This Italian luxury brand is joining the NFT bandwagon

<ul class="summary-list"><li><keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">Crypto</keyword> exchange FTX has hired Lauren Remington Platt to work on partnerships with luxury and fashion brands.</li><li>Luxury is a $300 billion market, and crypto wealth has created a new generation of high-end consumers. </li></ul>Crypto exchange FTX is widening its ambitions to target the luxury market, and it has hired former model-turned-beauty entrepreneur Lauren Remington Platt to head the push.Platt will hunt out major luxury brands — a market estimated to be worth <a href="https://www.statista.com/study/61582/in-depth-luxury/">$300 billion</a> — that have not yet gotten into <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>, the company said Wednesday.Three-year-old FTX has waged an aggressive marketing campaign to help it make up ground on legacy exchanges such as Kraken and Coinbase, helping it <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-ftx-crypto-exchange-valuation-billionaire-bitcoin-ethereum-2022-2">grow to a $32 billion company</a>.It has focused its efforts on sports, including a <a href="https://markets.businessinsider.com/news/currencies/bitcoin-giveaway-ftx-super-bowl-crypto-promo-time-second-half-2022-2">Super Bowl ad and giveaway</a>, and paying $135 million for the naming rights to NBA team the Miami Heat's stadium. But FTX has also signed up supermodel <a href="https://www.businessinsider.com/tom-brady-gisele-bundchen-ftx-equity-investment-crypto-bankman-fried-2021-6?amp">Gisele Bündchen</a> and her husband football star Tom Brady as long-term partners, and the new hire marks a deeper move into fashion and beauty.Platt is the founder of high-end beauty company Vensette, where she developed brand alliances with the likes of Vogue, Chopard, and Michael Kors, according to FTX."We are thrilled to have Lauren join FTX and lead our next marketing foray into luxury partnerships. Her wealth of experience in the fashion and luxury space will be essential for the next phase of growth of our team's partnership and branding focus," the exchange's CEO Sam Bankman-Fried said in a statement.Last year's jump in cryptocurrency prices helped create a new crop luxury buyers — young Americans with profit to spend, according to a December <a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-wealth-us-luxury-consumers-nfts-retail-bitcoin-spending-consumption-2021-12">report</a> from Jefferies. People under 35 are using that crypto cash to buy art, expensive jewelry, apparel, and accessories, it found."Our conversations would indicate as much as 20%-25% of [last 12-month] sales may have been generated by this phenomenon," Jeffries analysts said in the report.Recent examples of luxury brands getting into crypto include Prada teaming up with Adidas to launch an NFT, Ralph Lauren opening 24/7 digital stores in the Roblox metaverse, and Gucci joining forces with Superplastic to offer limited-edition NFTs.Platt told Insider women are underrepresented in crypto, and she hopes to bring some change to this in new role."Only 9% of women feel they understand crypto, and this means that the majority of women are being left behind from one of the most important opportunities for wealth creation of our generation," she said.FTX is also targeting the gaming sector, also popular with crypto-friendly millennials and Generation Z. On Monday, it <a href="https://markets.businessinsider.com/news/currencies/ftx-gaming-division-help-companies-integrate-blockchain-nft-crypto-games-2022-2">launched a division to offer its platform to games publishers</a> wanting to bring <keyword id="11902216" type="UNKNOWN" weightage="60" keywordseo="blockchain" source="Orion">blockchain</keyword> and NFTs to their titles.Separately, FTX said it had a funding round of $400 million at the end of January, which valued the exchange at $32 billion and attracted investment firms such as SoftBank, Tiger Global and Temasek.This funding round will support its growth plans through 2022, the company said.Read more: <a href="https://www.businessinsider.com/investing-strategy-portfolio-tips-to-deal-with-ukraine-crisis-ubs-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">UBS lays out the most likely scenario for how the Ukraine-Russia crisis will play out and reveals the 3 key things investors should do to protect their portfolio and deal with the turmoil</a>

FTX takes aim at the $300 billion luxury goods market and hires a beauty entrepreneur to head the push

Happy Thursday, readers. Jordan Parker Erb here, with word that Twitter is working on <a href="https://twitter.com/TwitterWrite/status/1539640956915290112">longform tweets</a>, a function that will let users surpass the 280-character limit.Let's get to it.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://techcrunch.com/2022/06/22/twitter-officially-rolls-out-its-long-form-content-notes-feature/"></a>1. Get ready to tweet your heart out. Twitter is testing a new longform blogging feature, called <a href="https://twitter.com/TwitterWrite/status/1539640956915290112">Twitter Notes</a>, that could launch in the coming weeks, <a href="https://techcrunch.com/2022/06/21/twitter-to-expand-into-long-form-content-with-upcoming-twitter-notes-feature/">TechCrunch first reported</a>.<ul><li>Right now, the feature is limited to just a handful of writers in the United States, Canada, Ghana, and the United Kingdom. <a href="https://twitter.com/i/notes/1535469588846092288">You can see an example of a Note here.</a></li><li>Notes can be a whopping 2,500 words, can include photos, and can be edited after they're published (a feature Twitter users <a href="https://twitter.com/KimKardashian/status/1006691477471125504">have long been asking for</a>), according to <a href="https://help.twitter.com/en/using-twitter/notes">the company's blog</a>.</li><li>The update will be the biggest change to word count <a href="https://www.businessinsider.com/twitter-280-character-tweets-for-everyone-2017-11">since 2017</a>, when Twitter announced it'd be upping the character limit from 140 to 280.</li></ul><a href="https://techcrunch.com/2022/06/22/twitter-officially-rolls-out-its-long-form-content-notes-feature/">Here's the latest on Twitter Notes.</a>In other news:<a href="https://www.businessinsider.com/amazon-alexa-ape-human-voices-dead-alive-pandemic-reactions-2022-6"></a><div type="image" title="An Amazon Alexa device" height="1246" width="1661" msid="92411961" hostid="261" sizebytes="38404"></div>2. Amazon is working on giving Alexa the ability to mimic anyone's voice — dead or alive. An Amazon exec said his team has been instructing Alexa to pick up a voice from a short audio clip and convert it into longer audio output. <a href="https://www.businessinsider.com/amazon-alexa-ape-human-voices-dead-alive-pandemic-reactions-2022-6">Here's what we know.</a>3. One of PayPal's first employees shared his biggest takeaway from working with Elon Musk. The former employee said one of his biggest observations of Musk, who was PayPal's CEO, is that he's never doing only one thing at a time. <a href="https://www.businessinsider.com/elon-musk-paypal-jason-portnoy-biggest-lesson-work-2022-6">Here's what else he said.</a>4. Every Wall Street firm should know these Big <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">Tech</keyword> execs. As Wall Street eyes bigger cloud projects, we put together a list of 14 experts from companies like Snowflake, Oracle, and Google Cloud who could make the jump from Silicon Valley to the Street. <a href="https://www.businessinsider.com/cloud-execs-in-big-tech-that-wall-street-could-hire-2022-6">Meet them here.</a>5. A former Tesla worker rejected a $15 million payout. The employee's lawyers said the payout, which was awarded after the former Tesla elevator operator filed a racial abuse lawsuit, wasn't enough. <a href="https://www.businessinsider.com/tesla-racial-abuse-lawsuit-payout-owen-diaz-2022-6">Now, the employee and Tesla are heading back to court.</a>6. Sweetgreen is winning over Gen Z with TikTok. The salad chain already won over millennials. Now, Sweetgreen is using TikTok videos to expand its appeal to a younger generation. <a href="https://www.businessinsider.com/how-sweetgreen-is-marketing-to-gen-z-using-tiktok-2022-6">How Sweetgreen is wooing Gen Z.</a>7. Mark Zuckerberg just hinted at an operating system for Meta. In an interview with CNBC's "Mad Money," Zuckerberg said a Facebook operating system may be needed "in order to deliver on what we want to build." <a href="https://www.businessinsider.com/mark-zuckerberg-on-meta-os-revenue-expectations-for-metaverse-2022-6">Here's what else he said.</a>8. These books can help you weather the crypto tailspin and become a smarter investor. Experts shared their top picks for books that can help you understand digital currencies and their current downturn. <a href="https://www.businessinsider.com/crypto-investing-best-books-list-recommendations-bitcoin-blockchain-ethereum-strategy-2021-7">Check out their 27 book recommendations.</a>Odds and ends:<a href="https://www.businessinsider.com/meta-launches-avatars-store-with-balenciaga-prada-and-thom-browne-2022-6"></a><div type="image" title="The Meta Avatars store will allow users to purchase designer outfits." height="1080" width="1440" msid="92411963" hostid="261" sizebytes="54298"></div>9. Meta just launched a store where users can buy designer clothes for their Avatars. The Meta Avatars Store will sell clothes from brands like Balenciaga, Prada, and Thom Browne — but unlike designer clothes in real life, items will range from $2.99 to $8.99. <a href="https://www.businessinsider.com/meta-launches-avatars-store-with-balenciaga-prada-and-thom-browne-2022-6">What we know so far.</a>10. A new way to buy and sell NFTs is now available for the masses. An Insider reporter bought a superhero bunny on Coinbase's new NFT marketplace, but the experience still has her wondering what purpose NFTs truly serve. <a href="https://www.businessinsider.com/coinbase-nft-app-marketplace-buying-a-cartoon-super-bunny-2022-6">Read more from her experience.</a>What we're watching today:<ul><li>FedEx and others are reporting earnings. <a href="https://markets.businessinsider.com/earnings-calendar">Keep up with earnings here.</a></li><li>Tech Live London is happening <a href="https://live.technologymagazine.com/">today and tomorrow</a>.</li><li>Linux Security Summit kicks off today in <a href="https://events.linuxfoundation.org/linux-security-summit-north-america/">Austin</a>.</li><li>TechCrunch's <a href="https://techcrunch.com/events/tc-annual-summer-party-2022/">annual summer party</a> is happening in Menlo Park, CA.</li></ul>Keep updated with the latest tech news throughout your day by checking out<a href="https://link.chtbl.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet<a href="https://twitter.com/jordanparkererb?lang=en"> @jordanparkererb</a>.) Edited by Lisa Ryan (tweet<a href="https://twitter.com/lisarya"> @lisarya</a>) in New York.

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This Italian luxury brand is joining the NFT bandwagon

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FTX takes aim at the $300 billion luxury goods market and hires a beauty entrepreneur to head the push

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Twitter is testing 'Notes' longform tweets

Jordan Parker Erb

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