Blockchain technology powered luxury fashion startup SYKY bags Series A funding, releases NFT — Retail Technology Innovation Hub
SYKY, a blockchain enabled luxury fashion platform, has closed a $9.5 million Series A funding round.
This was led by Alexis Ohanian’s firm Seven Seven Six. The round was 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 a platform that will serve as an incubator, marketplace and social community for the next generation of designers and consumers.
“There is limitless potential with Web3 and fashion’s place in this future is no exception,” says 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.”
“Fashion is on the verge of a renaissance, powered by technology and the next generation of creators,” says Delahunt.
“With SYKY, we aim to build a platform that equalises 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.”
NFT
SYKY released its first NFT, The Keystone, on 20th January.