American metaverse fashion brand Space Runners has raised $10 million to build the first end-to-end Fashion ecosystem on blockchain. The financing round was co-led by Polychain and Pantera Capital, along with Accel, Jump Crypto, and other participants including Yat Siu (co-founder and chairman of Animoca Brands), and Justin Kan (co-founder of Twitch and Fractal).

“With its $10 million financing, Space Runners aims to expand its two business lines: Fashion items and Fashion Metaverse. With Fashion items, Space Runners aims to expand its Metaverse Fashion Brand to be the largest supplier of interoperable fashion items for different metaverses and games. With the Fashion Metaverse, Space Runners aims to gamify fashion for the first time by creating the first ‘Wear2Earn’ economy, where users are incentivised and rewarded for being fashionable in the Metaverse,” said Won Soh, co-founder of Space Runners.

Last December, Space Runners launched the NBA Champions Sneaker Collection with former NBA Champions Kyle Kuzma and Nick Young, wherein all 10,000 NFTs sold out the same day in 9 minutes. The fashion items are designed as NFTs that are pluggable in different metaverses and games, the company said in a media release.

Space Runners also launched Augmented Reality (AR) and Social Media filters where holders can try on their Space Runners, making their NFTs interactive even outside of metaverses and games.

"Pantera is proud to support Space Runner's vision to pave a new way to interact with fashion on the blockchain," said Paul Veradittakit, a partner at Pantera Capital. "Digital identity and self-expression will be a key component in the metaverse. Fashion will be just as if, if not more, important in the Metaverse than the real world."

Fibre2Fashion News Desk (KD)

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