Alice Delahunt believes the future of fashion is in the Web 3 and created Syky (pronounced “psy-key”) to set the wheels in motion.
After working in marketing at luxury fashion houses, she launched the company in November, serving roles including chief digital and content officer at Ralph Lauren and director of digital and social marketing at Burberry.
In the year In 2017, Delahunt was at Ralph Lauren and had her first glimpse of blockchain, but it wasn’t until years later when she worked with companies like Snap, Bitmoji and Roblox to pioneer some digital apparel projects. That Web3 was going to be “more than a community” for luxury fashion.
“I felt there was potential for virtual fashion and digital fashion to really take off,” she told TechCrunch. “I believe that the luxury fashion houses of tomorrow are being built today.”
That’s when Delahunt left Ralph Lauren and began cultivating Siki; She said it will serve as an incubator, marketplace and social community for the next generation of fashion designers and consumers.
As my colleague Dominique-Madori Davies recently noted, “If there’s one industry that could use Web3, it’s fashion,” especially when it helps to take the industry in a new direction or become more sustainable.
This is much of Delahunt’s focus. Her company’s name was inspired by Psyche, the mythical Greek goddess of the soul, she says, describing how “designers use fashion to express the intangible parts of ourselves and ourselves.”
“Designers inspire us to say it in fashion,” Delahunt added. “And those dreams come from the innermost parts of our psyche, so it was important for the name to reflect that.”
The company is launching its platform by releasing its first NFT, of which 987 will be available on January 20. Fifty Keystones will be reserved for designers and given to designers, Delahunt said.
Keystone is a membership pass where you can network and collaborate with other creatives and provide exclusive access to attend digital and physical fashion events. Keystone holders will be the first to hear about designer suite drops, company alpha and beta feature releases, and partner projects. You will also receive current insights and reports on fashion and technology.
Psyche is still in its early stages, but has been bought by a $9 million Series A investment led by Seven Seven Six, which also includes Brevan Howard Digital, Leadout Capital, First Light Capital Group and Polygon Ventures.
The investment marks Seven Seven Six’s Web3 fashion journey, and Alexis Ohanian told TechCrunch in an email that Sikkin’s appeal stems from his obsession with the intersection of technology and culture.
Ohanian added, “Creating and growing Reddit has given me a front-row seat to the power of cultural innovation in technology, even though it’s an internet culture, and fashion is one more integral part of that.”
In the meantime, Delahunt intends to deploy the new capital on building the Siki team, introducing designers to the community, and product and technology development.
She plans to be a revenue driver for the company in the future marketplace. It will be a place for emerging designers and established designers to sell and trade their collections with consumers. It will also be a place where designers and consumers can curate spaces to showcase their fashion interests.
Delahunt was tight-lipped about some of the company’s next steps, including an announcement to designers in February and another platform component launching in the second quarter of this year.
Delahunt added: “We build the luxury space environment in the digital world and then in the physical world.