Polychain and Pantera lead $10 million investment in Metaverse Fashion House

Fashion house Metaverse Space Runners has raised $10 million in a seed funding round led by investment firm Polychain Capital and asset managers Pantera.

Space Runners prides itself on being the “first dedicated fashion brandand, late last year, he collaborated with NBA players Kyle Kuzma and Nick Young to release the “NBA Champion” wearable sneaker. NFT.

The “NBA Champion” collection sold 10,000 NFTs in the space of nine minutes and will likely help fund Space Runner’s vision of a ” End-to-end fashion metaverse on the Blockchain.”

The brand describes himself as a designer and supplier of “Wearable NFTs via Augmented Reality (AR), in collaboration with celebrities and brands”. This hints that NFT holders will also enjoy various real benefits, including the ability to meet and greet Space Runners sports and celebrity collaborators.

According to the company’s official roadmap, Space Runners also plans to launch its own blockchain this year, which will underpin the metaverse it is developing. The blockchain will be represented by its native SPACE token.

Other participants in the Space Runners roundtable included Animoca president Yat Siu and Twitch co-founder Justin Kan.

Fashion in the Metaverse

The fledgling metaverse has already attracted some of the biggest names in fashion to open virtual storefronts.

Over the past summer, Dolce & Gabbana has partnered with digital marketplace UNXD to launch a collection of NFT laptops called “Collezione Genesi” (Collection Genesis). Gucci also bought real estate in The Sandbox and confirmed that it will be selling clothes from a virtual storefront.

Sportswear giants have also been keen to jump on the emerging NFT economy.

At the end of last year, Adidas announced high-level collaborations with Bored Ape Yacht Club, Gmoney and PUNKS Comic, whose fruits grossed $23 million. The brand too bought virtual real estate in The Sandbox and announced a Coinbase partnership as part of its metaverse hub.

Nike isn’t far behind either. Before last Christmas, the company announced that it had acquired RTFK Studios, a digital art studio specializing in sneaker-themed NFTs. The news came shortly after news broke that Nike had submitted four deposit requests file virtual goods with the United States Patent and Trademark Office.

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