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On Syky, the web3 platform backed by Seven Seven Six, blockchain meets high fashion

Syky (pronounced “psy-key”) was founded by Alice Delahunt, who thinks web3 is where the fashion industry is headed.

After working in marketing for high-end fashion brands like Ralph Lauren and Burberry, where she held positions like chief digital and content officer, she founded the firm in November.

Delahunt first encountered the blockchain while working for Ralph Lauren in2017, but it wasn’t until she helped pioneer digital wardrobe initiatives with startups like Snap, Bitmoji, and Roblox that she realised web3 would be “more than a niche community” for high fashion.

She expressed her hope that “virtual fashion and digital fashion” will “truly take off”. I think the high-end fashion labels of the future are being established right now.

When Delahunt saw that she might have a greater impact on the next generation of fashion designers and customers outside of Ralph Lauren, she made the decision to leave the company and begin work on Syky.

According to my coworker Dominic-Madori Davis, “if there is one sector that could utilise web3, that industry is fashion,” especially when it comes to giving the fashion industry a new direction or making it more sustainable.

This is a major area of interest for Delahunt. She felt that “how designers use fashion to communicate the intangible elements of ourselves and ourselves” was epitomised by the Greek goddess of soul, Psyche, therefore she decided to name her brand after her.

Delahunt elaborated, “Designers empower us to imagine via dress.” To me, it was crucial that the name allude to the fact that “such dreams emanate from the innermost portions of our mind.”

On January 20th, the business will release its first NFT, The Keystone, with a supply of 987. This will mark the beginning of the platform’s social features. Delahunt has promised that fifty of the Keystones would be set aside for distribution to promising designers.

By purchasing The Keystone, users have access to Syky’s exclusive membership area, where they may interact with other members, work on projects together, and attend both online and offline fashion events. Holders of the Keystone will also be the first to learn about new designer collections, corporate features, and collaborative efforts. They will also receive studies and insights on the latest trends in fashion and technology on a regular basis.

The $9 million Series A investment headed by Seven Seven Six and including Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures has given Syky a boost as it continues to develop.

Alexis Ohanian, co-founder of Seven Seven Six, told that Syky’s fascination with the convergence of technology and culture was the primary motivation for the investment.

“Creating and expanding Reddit gave me a front-row seat to the power of cultural production through technology, even if it’s online culture,” Ohanian said.

Delahunt plans to use the funds on growing the Syky team, integrating new designers into the group, and advancing the company’s technological capabilities.

She anticipates the market to expand and become a major source of revenue for the business. It will be a marketplace where new and upcoming designers may share their wares with the public. In addition, it will serve as a venue where fashionistas and shoppers alike may exhibit the creations that most speak to them.

Delahunt was cagey about the company’s upcoming plans, which include a February announcement for designers and a second platform launch in the second quarter.

Delahunt continued, “We’re going to construct the luxury space atmosphere in the digital world and then in the actual world.”