SYKY

SYKY, pronounced 'psy-che', is a blockchain-enabled platform positioning itself at the intersection of luxury fashion, digital design, and Web3 technology. The company was founded in 2022 by Alice Delahunt, an industry executive with substantial experience from her roles as Chief Digital & Content Officer at Ralph Lauren and Global Director of Digital & Social at Burberry. Delahunt's background in leading digital transformation for major fashion houses underpins SYKY's strategy to democratize the industry and empower a new generation of talent.

The firm operates a multi-faceted business model centered on being an incubator, marketplace, and social community. A core component is the 'SYKY Collective,' a year-long incubator for emerging digital designers. This program provides mentorship from fashion industry leaders, including executives from Calvin Klein and Vogue, and educational support from partners like the British Fashion Council. SYKY's business model includes taking a 10% commission on primary sales from its incubated designers and a 3% fee on secondary market transactions, with the original creator also receiving a percentage of the resale value. This structure is designed to support designers in building their own brands.

SYKY's platform enables users to buy, sell, trade, and curate digital-first fashion collections, which include digital-only garments, one-of-a-kind physical pieces, and augmented reality items. In January 2023, the company secured between $9.5 million and $10.5 million in a Series A funding round led by Alexis Ohanian's venture firm, Seven Seven Six, with participation from Brevan Howard Digital and Polygon Ventures, among others. This capital is aimed at expanding the platform and realizing its mission. A key product is the 'Keystone,' an NFT that acts as a membership pass, granting holders access to exclusive collection drops, community spaces, and industry insights. The platform's target market is the next generation of digital-native designers, collectors, and fashion consumers, particularly Gen Z, who are increasingly inspired by virtual avatars and digital goods.

Keywords: digital fashion, luxury fashion, Web3, NFT marketplace, fashion incubator, phygital, virtual goods, Alice Delahunt, SYKY Collective, blockchain fashion, augmented reality fashion, digital collectibles, creator economy, fashion technology, decentralized fashion, designer mentorship, Seven Seven Six, Polygon Ventures, digital wearables, future of fashion