Alice Delahunt believes the future of fashion is in the web3, and she created Syky (pronounced “psy-key”) to get the wheels in motion.
He founded the company in November after a marketing career in luxury fashion houses, serving in roles such as chief digital and content officer at Ralph Lauren and director of digital and social marketing at Burberry.
In 2017, Delahunt was at Ralph Lauren and got his first look at blockchain, but years later he got the opportunity to see it working with companies like Snap, Bitmoji, and Roblox to spearhead some digital wardrobe projects. web3 would become “more than a niche community” for luxury fashion.
“I felt like virtual fashion and digital fashion really had the potential to rise,” he told TechCrunch. “I believe the luxury fashion houses of tomorrow are built today.”
That’s when Delahunt left Ralph Lauren and began developing Syky, which he said would serve as an incubator, marketplace, and social community for a new generation of fashion designers and consumers.
As my colleague Dominic-Madori Davis recently noted, “if there is an industry that can use web3, it’s in vogue”, especially when it comes to taking the industry in a new direction or helping it become more sustainable.
That’s most of Delahunt’s focus. His company’s name is inspired by the mythological Greek spirit goddess Psyche, who she says personifies “how designers use fashion to express abstract parts of ourselves and ourselves.”
“Designers inspire us to dream through fashion,” Delahunt added. “And these dreams come from the innermost parts of our soul, so it was important to me that the name reflect that.”
The company is kicking off the community portion of its platform by publishing its first NFT, titled The Keystone, of which 987 will be available on January 20. Delahunt said that fifty Keystones will be reserved for aspiring designers and given to them.
Keystone is a membership card that provides exclusive access to Syky’s membership area where they can network and collaborate with other creators and attend digital and in-person fashion events. Keystone owners will also be the first to hear about designer collection discounts, company alpha and beta feature releases, and collaborative projects. They will also receive periodic insights and reports on fashion and technology.
Syky is still in its early stages, but it’s booming with a $9.5 million Series A investment led by Seven Seven Six, which includes Brevan Howard Digital, Leadout Capital, First Light Capital Group and Polygon Ventures.
The investment marks Seven Seven Six’s entry into web3 fashion, and Alexis Ohanian told TechCrunch via email that it stems from Syky’s obsession with the intersection of technology and culture.
“Creating and growing Reddit has given me a front-row seat to the power of creating culture through technology, even if it’s internet culture, and fashion is a key element of that,” added Ohanian.
Meanwhile, Delahunt plans to raise new capital to build the Syky team, encouraging designers to the community and product and technology development.
He plans the future marketplace to be a source of income for the company. It will be a place where emerging designers and non-established designers can sell and trade their collections with consumers. It will also be a place where designers and consumers can organize spaces to showcase their passion for fashion.
Delahunt gave confidential information about some of the company’s next steps, which includes an announcement for designers in February and another part of the platform that was launched in the second quarter of this year.
“We will build the luxury space environment in the digital world and then the physical world,” Delahunt added.
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