Space Runners Raises $10m to Develop Fashion Metaverse

Key Insights:

• Space Runners raises $10m to develop fashion Metaverse.
• The platform’s Genesis NFT drop, the NBA Champions Sneaker Collection, sold out in 9 minutes.
• Space Runners follows a growing list of big fashion names into the Metaverse, including Victoria’s Secret.

Space Runners partners with brands and celebrities to design digitally wearable NFTs through Augmented Reality (AR).

In 2021, Space Runners collaborated with the NBA’s Kyle Kuzma and Nick Young to launch the platform’s first NFT drop. The Genesis drop consisted of a 10k sneaker collection.

In addition to purchasing the NFTs, owners would also become members of a “SPACE” club. Members benefit from privileges that include Kuzma and Young signed memorabilia, invites to NBA parties, tickets to NBA games, and more.

Following the 2021 NBA Champions Sneaker collection, Space Runners is now targeting the Metaverse.

Space Runners Raises $10m to Develop Fashion Metaverse

Overnight, Space Runners announced a $10 million financing for building a Fashion Metaverse.

OFFICIAL FUNDING ANNOUNCEMENT

Space Runners is excited to announce $10M in financing to build an end-to-end Fashion Metaverse on Blockchain!@polychaincap | @PanteraCapital | @Accel | @jump_ | @ysiu | @rottendoubt | @justinkan | @kunoag | @hollyhliu | @ashwinnavin pic.twitter.com/BpoyH2Sb9D

— Space Runners | Fashion Metaverse (@SpaceRunnersNFT) March 7, 2022

Polychain Capital, Pantera Capital, Jump, and Accel led funding will support:

• SPACEverse: a fashion Metaverse, incorporating a wear2earn economy which is gamifying fashion. Here, users can showcase fashionable NFTs, join events, interact, and play games with other users.
• Collaborations with fashion, music, sports, art, and web3.
• Enriching the Space Runner community.

Space Runners will work with artists and brands to incorporate items into games. As with the NBA Champions Sneaker Collection, NFT owners can redeem for real-life events that include meeting with athletes and celebrities.

Space Runners Follows Other Big Fashion Names into the Metaverse

Big fashion names are no stranger to NFTs and the Metaverse. Last month, we reported on Victoria’s Secret trademark applications and its plans to join an ever-growing list of big names to enter the Metaverse.

Later this month, Fashion Week is going to the Metaverse. In February, Vogue Business announced a 4-day Decentraland (MANA) digital fashion week, starting 24^th March.

Front rows and after parties are in, but tickets are out. Your digital outfit matters, but seasons aren’t relevant. Welcome to fashion week in the metaverse.https://t.co/iPjbUCkas6

— Vogue Business (@voguebusiness) February 4, 2022

At the 4-day event, visitors and global brands can virtually attend fashion shows, live music events, and even after-parties. Attendees can also buy and wear digital clothing, with some digital catwalk collections redeemable for physical pieces.

There are high expectations for the SPACEverse. In December, the NBA Champions Sneaker Collection sold out in 9 minutes.