DIGITAL FASHION

The Fabricant just raised $14 million in funding to build the wardrobe of the Metaverse

The new funding is an important step towards the company’s goal — to build a decentralized fashion house that will dress the population of the Metaverse and create a more equitable, creative, and sustainable fashion industry.
By JOHAN MAGNUSSON
May 02, 2022

The leading digital fashion house The Fabricant’s Series A round of financing is led by Greenfield One, with participation of Ashton Kutcher and Guy Oseary’s Sound Ventures, Red DAO, and others. It also includes renewed participation from previous investors such as 4impact, Slingshot Ventures, and Borski Fund. The new funding aims to allow the company to focus on contributing to a new economy and providing a platform — its co-creation and NFT platform, The Fabricant Studio — where anyone can become a digital fashion creator and participate in the digital fashion economy.

— The story behind digital fashion is in need of a new narrative. One that leaves toxic behaviours and waste behind and looks into the 21st century and beyond. In the Metaverse, we get to create a new playing field where everyone can benefit and enjoy the love for self-expression, and create an economy around it. We’ve designed the tools to help construct a new fashion industry, one in which we believe we will all thrive, says Amber Slooten, co-founder and creative director at The Fabricant.

Allowing anyone to create, trade, and wear digital-only garments, the company’s ultimate mission is to build a decentralized fashion house that will dress the population of the Metaverse and create a better fashion industry. The Fabricant estimates that by 2025, 100 million people will be Metaverse-ready by wearing digital garments which are minted in its studio. After partnering with the likes of adidas and Epic Games, the next big platform collaborations will be with World of Women, the biggest female-led NFT community to date, and The Sandbox. In addition, Epic Games recently awarded The Fabricant with a mega-grant.

— Within virtual environments, we are likely going to have multiple digital reflections of our physical selves. The Fabricant Studio allows any creator to become their own fashion designer in the Metaverse — paired with Web3 technology, digital fashion becomes unique, tradeable, and accessible to the masses. The team behind The Fabricant identified this paradigm of user-generated fashion very early on, long before NFTs caught mainstream attention, says Jascha Samadi, partner of Greenfield One.

— Everyday users become creators using The Fabricant Studio, which allows users to craft high-end digital fashion NFTs in collaboration with their favourite brands. The Fabricant is building a very user-friendly end-to-end experience that obfuscates the complexities of blockchains, while still giving users all of the sovereignty + interoperability + distribution value that NFTs can offer. By being the first to tackle UGC (User-generated content, Ed’s note) on the blockchain, The Fabricant is introducing entire new ecosystems to this community and showing them the power and value of NFTs for creators, Maaria Bajwa, investor at Sound Ventures, adds.

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