The Fabricant, a digital fashion house based in the Netherlands, has recently secured $14 million in a series A funding round led by a group of investors. This funding will play a crucial role in supporting The Fabricant’s mission of creating the “wardrobe of the metaverse” through its co-creation and non-fungible token (NFT) platform, The Fabricant Studio. Initially, The Fabricant focused on developing 3D digital clothing designs for clients like Adidas. However, in recent years, it has ventured into the blockchain, NFT, and metaverse space.
The series A funding round was primarily led by Greenfield One, with the participation of notable investors including Sound Ventures, Red DAO, and previous investors 4impact, Slingshot Ventures, and Borski Fund. Ashton Kutcher and Guy Oseary, known for their involvement in Sound Ventures, have also contributed to the funding. Such support from prominent investors reflects the confidence in The Fabricant’s vision and its potential to disrupt and redefine the fashion industry.
The core objective of The Fabricant Studio is to empower users to become digital fashion creators and actively participate in the digital fashion economy. The company aims to create a future where 100 million individuals will be “metaverse-ready” by 2025 through wearing digital garments minted in The Fabricant Studio. This platform provides a user-friendly experience, allowing everyday users to collaborate with their favorite brands and design high-end digital fashion NFTs. By simplifying blockchain complexities, The Fabricant ensures that users can benefit from the advantages of sovereignty, interoperability, and distribution that NFTs offer.
Impressed by The Fabricant’s approach to user-generated content on the blockchain, investors like Maaria Bajwa from Sound Ventures recognize the potential for new ecosystems within the NFT community. The Fabricant has also strengthened its position in the digital fashion industry through collaborations with esteemed brands like Vogue and Diesel for NFT projects. Amber Slooten, co-founder and creative director at The Fabricant, believes that digital fashion provides a fresh narrative that moves away from toxic behaviors and waste. She perceives the metaverse as an opportunity to build a new fashion industry that embraces self-expression and fosters economic growth.
The metaverse presents a significant opportunity for luxury goods, as estimated by Morgan Stanley, with potential revenues reaching €50 billion ($60 billion) by 2030. The Fabricant’s successful funding round positions it favorably to capitalize on this growing market and continue transforming the fashion industry in the digital era. Through its innovative platform and emphasis on user participation, The Fabricant is laying the foundation for a new fashion era where creativity, sustainability, and technology converge.
Relevant links:
– The Fabricant
– Morgan Stanley: The Metaverse
