Web3 fashion startup Sikki has raised $9.5 million

Dive Brief:

  • Luxury fashion platform Heart beat The company announced this week that it has raised $9.5 million in a Series A funding round. Seven Seven Six, the investment firm created by Reddit co-founder Alexis Ohanian, led the financing round, and Brevan Howard Digital, Leadout Capital, First Light Capital Group and Polygon Ventures participated in the round.
  • The organization said that the financial support will enable it to execute. Heart beat Founder and CEO Alice Do not acceptIt allows creators to curate, generate, share and market their fashion collections, according to the company’s press release.
  • The company said it plans to release its first irrevocable token on Friday, which will serve as a membership pass to access membership space and other fashion events. Keystone holders receive fashion and technology reports and access creative networks. fifty Keystones are awarded to designers who seek as if The ad.

Dive Insight:

Alongside other brands and retailers experimenting with NFTs, Syky is tying unique benefits to the token. The company said in a press release that it will make exclusive designer collection drops and alpha and beta releases and partner projects available to token holders.

“Fashion is on a renaissance fueled by technology and the next generation of innovators,” Delahunt said in a statement. “With Psyche, we aim to build a platform that streamlines creative opportunities for aspiring designers, showcases the best fashion from emerging and established brands, and fosters a community that loves the evolution of fashion.”

Meanwhile, other brands and retailers have been experimenting with their own virtual marketplaces. In November, Nike Nike has launched an online member hub. To collect and create virtual items including shoes and jerseys. In the same month, Adidas Product category introduced On the website for virtual items. Other brands, incl Puma, Lacoste And TiffanyThey have announced NFT projects with special benefits.

But it remains to be seen whether consumers will fully embrace the idea, and how it will develop over time, as brands and retailers jump into the metaverse early and launch irresistible token projects. In May, Wenderman Thompson Intelligence released a survey showing that 74% of consumers surveyed had heard of MetaTrader 4. Only 15% felt they could explain the idea to others.. And the July Forrester report warned the virtual consumer Even ten years from now, there will be no workable experiences..

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