WEB3 Fashion Platform, Syky, Closes $9.5M Series a Funding Round, Led by Alexis Ohanian’s Seven Seven Six

• INVESTMENT MARKS SEVEN SEVEN SIX’S ENTRY INTO WEB3 FASHION

• SYKY TO GRANT 50 OF ITS FIRST NFTS TO ASPIRING DESIGNERS

SYKY, a next generation luxury fashion platform, today announced the close of a $9.5 million Series A funding round. The investment is led by Alexis Ohanian’s firm Seven Seven Six. The round is also funded by Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures.

SYKY, led by Alice Delahunt, the former Chief Digital & Content Officer at Ralph Lauren and Digital & Social Marketing Director at Burberry, is building the future of fashion with a blockchain-enabled luxury platform that will serve as an incubator, marketplace and social community for the next generation of designers and consumers. 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.”

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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 trends report noted that nearly 75% of Gen Z said they would spend money on digital fashion.

“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.”

Alongside this milestone, SYKY is releasing its first NFT, The Keystone, on January 20, 2023.  As part of the wider release, and in the spirit of SYKY’s mission to open access to creative opportunity, 50 Keystones will be awarded to aspiring 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, as well as special access to digital and physical fashion events. Additionally, Keystone holders will receive curated insights and in-depth reports in fashion and technology, as well as access to a network of like-minded creatives for collaboration and mentorship. Holders will also receive exclusive opportunities to designer collection drops, and advance notice of SYKY alpha & beta releases and partner projects.

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