The Fabricant, a digital fashion house with an ambition to build the “wardrobe of the metaverse,” said it has secured $14 million in a Series A funding round.
Among new investors in the Amsterdam-based firm are Ashton Kutcher and Guy Oseary’s Sound Ventures, Red DAO and Koji Capital.
The Fabricant said the new funding, led by Greenfield One, would support and expand its “co-creation and NFT platform” dubbed The Fabricant Studio.
“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 company said in a release. “The Fabricant Studio allows anyone to create, trade and wear digital-only garments.”
It estimates that by 2025, 100 million people will be metaverse-ready and clad in digital garments, and it touts The Fabricant platform as a place “where anyone can become a digital fashion creator and participate in the digital fashion economy.”
Established in 2018, The Fabricant creates digital couture NFT collectibles for the 3D digital fashion space. To date, it has worked with brands including Adidas, Off-White, Napapijri, Puma and Peak Performance.
The Series A round includes “renewed participation from previous investors including 4impact, Slingshot Ventures and Borski Fund.”
Other contributors to the A round include Stefano Rosso, son of Diesel and OTB founder Renzo Rosso, a member of the OTB board, and chief executive officer of Brave Virtual Xperience, a new company created to help brands across its portfolio develop projects, products and initiatives intended for the metaverse.
The Fabricant also noted that Epic Games recently awarded it a mega-grant open to digital creators for projects utilizing its Unreal Engine software.
“Within virtual environments, we are likely going to have multiple digital reflections of our physical self,” said Jascha Samadi, partner of Greenfield One, one of the new investors. “The Fabricant Studio allows any creator to become their own fashion designer in the metaverse. Paired with Web3 technology, digital fashion becomes unique, tradable and accessible for the masses.”
Samadi added that the team behind The Fabricant “identified this paradigm of user-generated fashion very early on, long before NFTs caught mainstream attention.”