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DressX Raises $15M for Digital Fashion In The Metaverse

The funding will go towards improving the performance of the app and NFT marketplace

Digital fashion house DressX took to Instagram to share the news of a successful $15 million funding round. Greenfield led the round with participation from Slow Ventures, The Artemis Fund and Warner Music among others. According to the company’s Instagram post, the funding will go towards improving the performance of the DressX app, ensuring interoperability and growing the platform’s community. Likewise, the funding will also aid DressX in building partnerships with other platforms.

“Digital fashion is something we have become extremely excited about as a firm. There is a huge design space and a new paradigm emerging around the question, what we are wearing within the metaverse. Fashion has always been a core part of someone‘s identity and a way to express yourself,” says Greenfield co-founder Jascha Samadi. “As we spend more and more time in virtual environments, this will equally translate beyond the physical sphere and NFTs and blockchain technology will enable true digital ownership to elevate one’s identity. We are very excited to see how this space will evolve over the next 5-10 years and we believe DressX will be at the forefront of shaping and driving change.”

Female-founded digital fashion

DressX was founded in 2020 by Daria Shapovalova and Natalia Modenova. Despite only being around for several years, the female-led Los Angeles-based start-up was nominated for The American Metaverse Top Corporate Partnership Project Award in 2022.

“We are eager to continue building and scaling the DressX vision for the future and implementing new features and use-cases for digital fashion with the support of Greenfield,” added DressX CEO Daria Shapovalova. “Building DressX as an ultimate destination for creators, brands, and consumers, we are proud to partner with this crypto investor, seeing this event as the next big step towards giving a meta closet to every person in the world.”

Fashion in the metaverse

DressX is far from the only fashion brand making its mark in the metaverse. Digital fashion house, House of Blueberry raised $6 million in funding earlier this year. Similarly, The Astraverse aims to be the first play-to-wear fashion metaverse.

Meanwhile, Metaverse Fashion week kicks off soon in Decentraland. This year’s theme of Future Heritage challenges traditional and digital fashion designers to connect.

Written By

Jack Brassell is a freelance journalist and aspiring novelist. Jack is a self-proclaimed nerd with a lifelong passion for storytelling. As an author, Jack writes mostly horror and young adult fantasy. Also an avid gamer, she works as the lead news editor at Hardcore Droid. When she isn't writing or playing games, she can often be found binge-watching Parks & Rec or The Office, proudly considering herself to be a cross between Leslie Knope and Pam Beasley.

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