Space Runners, a metaverse fashion brand, has raised $10 million in a fundraising round headed by Polychain and Pantera Capital.
Accel and Jump Crypto, as well as angels such as Animoca Brands chairman Yat Siu and Twitch co-founder Justin Kan, also participated in the seed round, which was disclosed on Monday.
High fashion and prominent wearables are becoming a huge business in the metaverse, an immersive environment made up of virtual worlds, gaming, and decentralized commerce with Ethereum-based Decentraland set to host its first Metaverse Fashion Week later this month.
Space Runners, which debuted its first NBA Champions Sneaker Collection with former NBA champions Kyle Kuzma and Nick Young last December, began minting NFTs on the Solana blockchain but now intends to transfer its vision of a “fashion metaverse” to Ethereum and other chains.
“We are designing and launching fashion items as NFT collections on a continual basis,” stated Space Runners CEO Deniz Özgür in an interview. “However, we’re also kicking off the first phase of our fashion metaverse.” Rather than merely an urban cyber style, we are emphasizing beauty and aesthetics, and we have been cooperating with some of New York’s most prominent fashion companies.”
According to Özgür, Space Runners’ fashion metaverse will not coexist with current virtual worlds but will be a separate space known as “Spaceverse,” with its own money. It’s a suggestion that can’t come soon enough for crypto and NFT-enthralled fashion firms looking to stake out a presence in the metaverse, she says.
“Many of the fashion firms we’ve spoken with have interesting backstories,” Özgür added. “Like they want to create some type of connection between their physical shops and their digital spaces, and they’re coming up with concepts like putting a QR code in fashion products that are a gem or something like that for gamification with their customers.”
Space Runners’ concept, according to Pantera Capital partner Paul Veradittakit, is paving the way for a new way to connect with fashion on the blockchain.
“Fashion will be equally significant – if not more so – in the metaverse than it is in the actual world,” Veradittakit said in a statement.
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