DressX, the leading digital fashion designer, has raised $15 million in a Series A funding round led by Greenfield Capital. This funding round also saw participation from Slow Ventures, Warner Music, The Artemis Fund, and digital fashion collective Red DAO.
DressX is a digital fashion designer founded in 2020. The company designs virtual fashion products that dress avatars in metaverse worlds and blockchain games. Since its inception, DressX has emerged as one of the leading fashion designers on social platforms and metaverses.
FLASH NEWS⚡️: @dressxcom announces the successful raise of USD 15 million Series A round 🚀
— DRESSX (@dressxcom) March 14, 2023
Series A funding
DressX has raised $15 million in a Series A funding round, with Greenfield Capital leading the way. The round saw the participation of Slow Ventures, Warner Music, The Artemis Fund, and digital fashion collective Red DAO.
In addition, DressX has partnered with Dapper Lab’s Flow blockchain to launch an NFT marketplace. The company plans to utilize the Series A funding to enhance its NFT marketplace and incorporate AR and VR technologies into its social platforms and the metaverse.
Collaborations with leading brands
DressX has collaborated with some of the leading brands, such as American Eagle, Dundas, and Bershka, to provide them with augmented and virtual reality skins for their metaverse experiences. In December 2022, it partnered with global music recording and production company Warner Music Group to create 3D and AR virtual clothing lines for select artists.
Leading role of Greenfield Capital in Series A round.
Jascha Samadi, founding partner at Greenfield, said digital fashion is something the VC is extremely excited about. “We are thrilled to witness the evolution of this space over the next 5-10 years and firmly believe that DressX will be leading the charge in shaping and driving change.”
Digital fashion: Massive incorporation into the metaverse
Digital fashion is seen as one of the most exciting avenues for bringing the masses into the metaverse. Some of the world’s biggest brands, such as Gucci, Luis Vuitton, and L’Oreal, have already made their foray into the immersive virtual world.
The rise of digital fashion
Recently, digital fashion has risen to the top of the agenda as people spend more time online and begin to express themselves digitally. To respond to this need, many major fashion brands have already launched NFTs and metaverses in the Web3 space.
Metaverse Fashion Week
Decentraland has collaborated with several fashion houses to bring Fashion Week to Web3, establishing the “Metaverse Fashion Week”. The second edition of the virtual event, which will take place in two weeks’ time, will see the participation of numerous major fashion brands and Web3 fashion projects, including DressX.
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