Quick take:
- SYKY is a blockchain-enabled luxury fashion platform founded by Alice Delahunt.
- Delahunt was formerly the chief digital & content officer at Ralph Lauren.
- SYKY will serve as an incubator, marketplace and social community for the next generation of designers and consumers.
SYKY, a Web3 fashion platform founded by Alice Delahunt, has closed a $9.5 million seed round led by Alexis Ohanian’s venture capital firm, Seven Seven Six. Participants in the round include Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures.
Led by Alice Delahunt, the former chief digital & content officer at Ralph Lauren and digital & social marketing director at Burberry, SYKY is a blockchain-enabled luxury fashion platform that will serve as an incubator, marketplace and social community for the next generation of designers and consumers.
SYKY was built with the digital-first generation, Gen Z, in mind as this generation drives the demand for digital fashion.
A recent report from Roblox and Parsons School of Design examining digital fashion and self-expression trends found that 70% of Gen Z’s physical style is influenced by their digital style and that nearly half of Gen Z look at digital fashion to experiment with new styles in digital and real life. Additionally, the trend report noted that nearly 75% of Gen Z said they would spend money on digital fashion.
This round of funding will fuel Delahunt’s vision and her mission to enable this digital-first generation to create, curate, share and trade their fashion collections.
“There is limitless potential with Web3 and fashion’s place in this future is no exception,” said Alexis Ohanian. “The ideals of fashion can bring to bear the best virtues of an open internet and creative expression. With culture so greatly influenced by the runway, digital fashion will expand opportunities for creatives and consumers. We invested in Alice and SYKY because we believe in Alice’s vision to build the leading fashion platform and community for the next generation of designers and consumers.”
Alongside the fundraise announcement, SYKY is releasing its first NFT, The Keystone, on Jan 20, with 50 Keystones to be awarded to aspiring fashion designers. The Keystone is a membership pass for fashion lovers, leaders and collectors who want to shape the future of fashion in digital, physical and augmented worlds.
Keystone holders will have exclusive access to SYKY’s membership space, digital and physical fashion events, as well as access to a network of like-minded creatives for collaboration and mentorship. Additionally, Keystone holders will receive curated insights and in-depth reports on fashion, exclusive opportunities for designer collection drops, and advance notice of SYKY alpha & beta releases and partner projects.
“Fashion is on the verge of a renaissance, powered by technology and the next generation of creators,” said Delahunt. “With SYKY, we aim to build a platform that equalizes creative opportunity for aspiring designers, showcases the best of fashion from emerging and established brands, and cultivates a community passionate about the evolution of fashion.”
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