Luxury fashion meets blockchain on Syky • TechCrunch’s Seven Seven Six powered Web3 platform

Alice Delahunt believes the future of fashion is web3 and created Syky (pronounced “psy-key”) to get the wheels moving.

The company launched in November following a career in marketing at luxury fashion houses, where she worked in key roles including Director of Digital Marketing and Content at Ralph Lauren and Director of Digital and Social Marketing at Burberry.

In 2017, Delahunt was working at Ralph Lauren and got her first look at blockchain, but it wasn’t until years later while working on pioneering some digital wardrobe projects with companies, like Snap, Bitmoji, and Roblox, that she got the chance to see it was. Website 3 This is “more than just a niche community” for luxury fashion.

Alice Delahunt Psyche fancy dress

Alice Delahunt, Founder and CEO, Syky. Image credits: Dean Isidro

“I felt like there was potential for virtual fashion and digital fashion to really take off,” she told TechCrunch. “I believe that the luxury fashion houses of tomorrow are being built today.”

That’s when Delahunt left Ralph Lauren and began developing Syky, which she said would act as an incubator, marketplace and social community for the next generation of fashion designers and consumers.

As my colleague Dominic Madurey-Davis recently pointed out, “If there is one industry that can use Web 3, it is fashionEspecially when it comes to taking the industry in a new direction or helping it become more sustainable.

That’s a lot of Delahunt’s focus. Her company’s name was inspired by the mythical Greek goddess of the soul, Psyche, who she said embodies “how designers use fashion to express the intangible parts of ourselves and themselves.”

“Designers inspire us to dream through fashion,” added Delahunt. “And these dreams come from the deeper parts of our psyche, so it was important to me that the name reflect that.”

The company is kicking off the community portion of its platform by launching its first NFT, called Keystone, of which 987 will be available on January 20. Fifty Keystones will be reserved for giving away to aspiring designers, Delahunt said.

Keystone is a membership card that provides exclusive access to Syky’s membership space, where they can connect and collaborate with other creators and the ability to attend fashion events digitally and in person. Keystone holders will also be the first to hear about designer group drops and alpha and beta feature releases for the company and partner projects. In addition, they will receive periodic insights and reports on fashion and technology.

Syky is still in its infancy, but is backed by a $9 million Series A investment, led by Seven Seven Six, which also included Brevan Howard Digital, Leadout Capital, First Light Capital Group and Polygon Ventures.

The investment marks Seven Seven Six’ entry into web3 fashion, and Alexis Ohanian told TechCrunch via email that Syky’s appeal came from his obsession with the intersection between technology and culture.

“Creating and growing Reddit has given me a front row seat to the power of creating culture through technology, even if it’s internet culture, and fashion is another key component of that,” Ohanian added.

Meanwhile, Delahunt intends to deploy the new capital in building the Syky team, incubating designers in the community and developing products and technology.

It plans the future market to be the company’s revenue driver. It will be a place for emerging designers and uncredited designers to sell their collections and trade them to consumers. It will also be a place where designers and consumers can organize spaces to display their passion for fashion.

Delahunt has been hush-hush about some of the company’s next steps, which include an announcement to designers in February, and another piece of the platform launching in the second quarter of this year.

“We’re going to build a luxurious space environment in the digital world and then in the physical world,” Delahunt added.

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