US' Warner Music Group announces partnership & investment in DressX

In the agreement, artists will collaborate directly with DressX to design and launch 3D and AR virtual clothing that fans can collect and enjoy across Instagram, Snapchat, and other platform partners. The deal will enable artists to unlock new revenue streams, while creating additional outlets for fans to showcase their fandom across multiple digital worlds, the company said in a press release.

Since the DressX launch in August 2020, the company has become the largest platform for digital-only fashion, with more than 3,000 digital items available in the DressX library, and launched the largest AR fashion app on the market. DressX has partnered with numerous leading tech, fashion, and lifestyle companies, including Meta, Roblox, Snapchat, Google, Coca-Cola, Farfetch, and more. The company's expertise in the digital fashion space cements its place among WMG's growing number of Web3 collaborations.

DressX fulfils its commitment to sustainability by investing in science-based evaluation of the carbon footprint of its digital fashions. The company has pioneered the development of a carbon calculation methodology for digital fashion and proposing patent, validated by The Carbon Accounting Company. Since June 2021, DressX has been partnering with Flow Carbon to offset the carbon emission from all of its operational activities, making the company carbon neutral due to offsets.

“The representation of our future digital selves will be as important and, if you're measuring by sheer volume of interactions, maybe more important than how we represent ourselves physically. As our digital identities become exponentially more robust and impactful, we are focused on building partnerships that will enable WMG and our artists. With its leadership in wearables and sustainability, DressX is exactly the type of partner we need sprinting alongside us as we build for the future,” Oana Ruxandra, chief digital officer & EVP, business development, WMG, said.

“We are extremely proud to partner with WMG and their incredible artists to continue building and scaling the DressX meta-closet vision for the future. Digital fashion is a visual language for communicating and creating bonds online, and at DressX we use technology to provide the utility for digital wearables using augmented reality, machine learning, and blockchain. Digital merch and swag from musicians will definitely be a part of the digital wardrobes of fans, and it's great to see that more and more stakeholders believe in this new domain that is already changing the fashion industry at a scale. Every day, we are getting closer to our aim of giving a meta-closet to every person in the world, making fashion accessible to everyone through innovation and tech,” Daria Shapovalova and Natalia Modenova, co-founders of DressX, said.

Fibre2Fashion News Desk (GK)