07 apr The Fabricant secures Series A funding to build wardrobe of the metaverse
LOS ANGELES – APRIL 7, 2022 – The Fabricant, a leading digital fashion house, has announced a Series A round of financing led by Greenfield One, with participation of Ashton Kutcher and Guy Oseary’s Sound Ventures, Red DAO and others. The funding is being used to support and expand the company’s initiative to build the “wardrobe of the metaverse” through its co-creation and NFT platform, The Fabricant Studio.
Next to previous partnerships with brands like 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, with COO Sebastian Borget also acting as angel investor. In addition, Epic Games recently awarded The Fabricant with a mega-grant, which is open to digital creators, for projects utilizing their Unreal Engine software.
Amber Slooten, Co-founder and Creative Director at The Fabricant commented: “The story behind digital fashion is in need of a new narrative. One that leaves toxic behaviors 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.”
The company’s ultimate mission is to build a decentralized fashion house that will dress the population of the metaverse and create a more equitable, creative and sustainable fashion industry. The Fabricant Studio allows anyone to create, trade, and wear digital-only garments. The Fabricant estimates that by 2025, 100 million people will be metaverse-ready by wearing digital garments which are minted in their studio.
The Fabricant has raised $14 million in funding with renewed participation from previous investors including 4impact, Slingshot Ventures and Borski Fund. The Series A financing will allow the company to focus on contributing to a new economy and providing a platform where anyone can become a digital fashion creator and participate in the digital fashion economy. Other contributors to the A round include pioneers in the crypto community such as Sfermion, Koji Capital, Stefano Rosso (OTB Group), Marc Weinstein (Partner at Mechanism Capital), Red DAO, Trevor McFedries (Brud), Shari Glazer (Glazer Foundation), Angel Xu (Venture Partner Quantstamp), Benny Giang (ex-Dapper Labs), Richard Ma (Quantstamp and owner of Iridescence Dress), Sebastian Borget (Sandbox), Sillytuna (Crypto Investor), Chad Knight (Head of 3D Wilder World), Victoire Maureau and Anoop Kansupada (Nifty Gateway)
Jascha Samadi, Partner of Greenfield One said: “Within virtual environments we are likely going to have multiple digital reflections of our physical self. 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 for the masses. The team behind The Fabricant identified this paradigm of user-generated fashion very early on, long before NFTs caught mainstream attention.”
“Everyday users become creators using The Fabricant Studio, which allows users to craft high-end digital fashion NFTs in collaboration with their favorite 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 on the blockchain, The Fabricant is introducing entire new ecosystems to this community and showing them the power and value of NFTs for creators,” Said Maaria Bajwa, Investor at Sound Ventures.
About The Fabricant
The Fabricant is a decentralized digital fashion house building the wardrobe of the metaverse via its NFT co-creation platform The Fabricant Studio. It operates at the intersection of fashion, gaming and blockchain, and since 2018 it has been leading the fashion industry towards a future of digital-only clothing. It creates digital couture NFT collectibles and collaborates with fashion and entertainment brands to bring them into the 3D digital fashion space. To date it has worked with Adidas, Under Armour, Off-White, Napapijri, Puma, Peak Performance, World of Women and gaming platforms like Epic Games and The Sandbox, amongst others, to demonstrate the vast creative possibilities within the digital fashion realm.