Delahunt initially encountered blockchain technology in 2017 while serving at Ralph Lauren. However, it was not until she worked on digital wardrobe initiatives with businesses such as Snap, Bitmoji, and Roblox that she realised web3 would be “more than just a specialized community” for premium products.
She believes virtual fashion and digital fashion had the capability to gain traction. I think that the premium fashion houses of the future are now being developed.
Delahunt left Ralph Lauren at that time and began establishing Syky, which, according to her, would function as an incubator, marketplace, and social network for the forthcoming wave of fashion designers and customers. According to my teammate Dominic-Madori Davis, “if there is one business that might benefit from web3, it is the sector,” particularly when it comes to driving the sector in a different direction or making it more eco-friendly.
This is a major priority for Delahunt. Her brand was named after Psyche, the mythical Greek goddess of soul, who, according to her, symbolized “how designers use fashion to convey the intangible aspects of ourselves and others.”
“Through clothes, designers encourage us to fantasize,” Delahunt remarked. It was crucial to me that the label convey the fact that these dreams originate from the deepest recesses of our mind.
The business is launching the community portion of its platform on January 20 with the release of its first NFT, The Keystone, among which 987 will be accessible. Delahunt said that fifty Keystones would be saved for and awarded to young designers.
The Keystone is a membership card that grants unique access to Syky’s membership area, where designers may network, team up, and attend online and in-person lifestyle gatherings. Keystone holders will also be notified first about designer collection releases, alpha and beta product releases, and partner initiatives. F urthermore, they will get frequent fashion and technology perspectives and analyses.
Syky is currently in its infancy, but a $9 million Series A investment headed by Seven Seven Six and included Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures has given it a boost.
The investment signifies Seven Seven Six’s entry into web3 fashion, and Alexis Ohanian told TechCrunch via email that his interest with the convergence of technology and culture led to his attraction to Syky.
Ohanian continued, “Creating and expanding Reddit gave me a front-row chair to the ability of culture creation via technology, even if it’s online culture, and fashion is a fundamental piece of it.”
In the meantime, Delahunt plans to use the extra funds in expanding the Syky team, integrating artists into the community, and developing new products and technologies. She anticipates the future market to be a revenue generator for the organization. It will be a marketplace for up-and-coming designers to sell and swap their designs with customers. In addition, designers and customers will be able to create places to express their fashion interests.
Delahunt remained circumspect about the company’s future plans, such as a February announcement for designers and the introduction of a second platform component in the second quarter of 2023.
Delahunt continued, “We will construct the luxury domain experience in both the digital and real worlds.”