Dive briefs:
- luxury fashion platform Psykey has raised $9.5 million in a Series A funding round, the company announced this week.Seven Seven Six, an investment firm founded by Reddit co-founder Alexis Ohanian, led the funding round, with participation from Brevan Howard Digital, Leadout Capital, First Light Capital Group and Polygon Ventures.
- The company said the funding will enable it to execute Psykey Founder and CEO Alice Delahuntplans to allow creators to curate, generate, share and trade fashion collections, according to the company’s press release.
- The company also said it plans to release its first non-fungible token, Keystone, on Friday, which will act as a membership pass to access the company’s membership space and other fashion events. Keystone holders also receive fashion and tech reports and access to the Creative Network. 50 Keystones are awarded to aspiring designers. Around Presentation.
Dive Insight:
Alongside other brands and retailers experimenting with NFTs, Syky has a unique perk attached to its token. According to a press release, the company said it will give token holders access to exclusive designer collection drops and provide advance notice of alpha and beta releases and partner projects.
“Fashion is on the brink of a renaissance, powered by technology and the next generation of creators,” Delahunt said in a statement. We aim to build a platform that showcases the best fashion from brands and fosters a community that is passionate about evolving fashion.”
Meanwhile, other brands and retailers are experimenting with their own virtual marketplaces. November, Nike Launched an online hub for Nike members Collect and co-create virtual goods such as shoes and jerseys.In the same month, Adidas Introduced product categories on the virtual goods website.other brands including Puma, Lacoste When Tiffanyannounced an NFT project with special benefits.
However, with brands and retailers jumping headfirst into the metaverse and launching non-fungible token projects, it remains to be seen whether consumers will fully embrace the concept and how it will develop over time. Still do not know. In May, Wunderman Thompson Intelligence released a study showing that 74% of surveyed consumers had heard of the Metaverse, but Only 15% felt able to explain their ideas to othersA July Forrester report warns virtual shoppers: Ten years from now, there will be no interoperable experience.
