Discover more from $5.vc
Billions of venture have poured into metaverse fashion cos! 💃🕺💰💰
Part One is all about What We Know in our two-part trend report.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
** DM sessions & brainstorms? ☝️ >> Join our new Twitter! 👍
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Venture Capital + Fashion + Metaverse 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ The Fabricant snags $14M to become your wardrobe in the metaverse! ]
- thanks dean!
The Fabricant, a digital fashion house for the metaverse, has raised $14 million in a round of funding. The company is partnering with other high-profile metaverse companies to position itself to be early in the market.
Greenfield One led the round, with participation of Ashton Kutcher and Guy Oseary’s Sound Ventures, Red DAO and others. The funding is being used to support and expand the company’s initiative to build the “wardrobe of the metaverse” through its co-creation and non-fungible token (NFT) platform, The Fabricant Studio.
The Fabricant was started in 2018 at the intersection of fashion, gaming, and blockchain. To date it has worked with Under Armour, Off-White, Napapijri, Puma, Peak Performance, World of Women and gaming platforms like Epic Games and The Sandbox, to demonstrate the possibilities within the digital fashion realm.
The company launched The Fabricant Studio in October 2021. That is the platform where anybody can create, trade and wear digital only fashion NFTs, and have since enabled the co-creation of thousands of digital fashion items.
>> [ TEN BILLION DOLLARS invested in metaverse companies in 2021! ]
- thanks maghan!
In 2021, more than $10 billion in venture funding went toward metaverse-related companies.
Experimental fashion designer Charli Cohen’s new venture, Rstlss raised a seed round of $3.5 million, led by Bitkraft Ventures, with participation from Rogue VC, Starting Line, Red DAO and Venture Reality Fund, plus angel investors including Paris Hilton, Twitch co-founder Kevin Lin and EpyllionCo managing partner Matthew Ball. The company will give brands and influencers the ability to sell “multiverse fashion” through a gamified experience and help convert traditional intellectual property into NFT wearables.
Aglet, founded at the start of the pandemic, rewards players with digital virtual sneakers through location-based challenges in the vein of Pokémon Go. In February, its parent company, called Onlife, Inc., announced a series A funding round led by Galaxy Interactive and Amazon’s Alexa Fund, for an undisclosed sum, bringing the total raised to $24 million. The money will be used to scale its team as the company expands into NFTs, avatars, and other wearables and collectibles, including its own physical sneakers.
This month, avatar technology company Genies announced a $150 million series C round led by Silver Lake, valuing the company at $1 billion. It boasts a 99 per cent “celebrity avatar market share”, meaning that if celebrities like Justin Bieber, and Cardi B, have an avatar, they have one through Genies, and has partnerships with Universal Music Group and Warner Music Group.
>> [ World of Women collabs with The Sandbox! And launches a $25M grant! ]
Gaming platform The Sandbox and NFT project World of Women collaborate, revealing metaverse opportunities for brands
- thanks zofia!
The NFT-focused community World of Women announced on Tuesday that it is coming to gaming platform The Sandbox, for the first partnership of its kind.
The main focus of the partnership is a $25 million grant through the WoW Foundation to bring crypto education to women. This will be done through courses and informed entrepreneurship, with initiatives like the WoW University and the WoW Academy.
Founded in 2011, The Sandbox is a blockchain-based virtual world where players can create NFTs, display their NFTs on their land visit new lands with their avatar and engage with other players and brands.
The partnership will provide business development opportunities and support NFT creators in learning about web3, the metaverse, NFT creation and auctions. The Sandbox is also launching interoperable WoW avatars, a dedicated space in The Sandbox for a WoW museum, free interactive online lessons through the WoW University and an incubator program through the WoW Academy for budding NFT entrepreneurs, complete with an end of season showcase.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for Part Two in our report.
We’ll discuss on how to position ourselves as a new player in the Venture Capital + Fashion + Metaverse space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.