Space Runners raises $10 million to build fashion metaverse

Metaverse fashion brand Space Runners has raised $10 million in a funding round led by Polychain and Pantera Capital. 

Accel, Jump Crypto, Core Ventures, Yat Siu (co-founder and chairman of Animoca Brands), and Justin Kan (co-founder of Twitch and Fractal) also participated in the round.

Co-founded by Deniz Ozgur and Won Soh, the company launched the NBA Champions Sneaker Collection with former NBA champions Kyle Kuzma and Nick Young last November. The entire collection of 10 thousand NFTs was sold out within 9 minutes.

“Our goal is to build the first end-to-end Fashion ecosystem on blockchain with the newly secured financing,” said Won Soh, co-founder of Space Runners.

Positioned as one of the biggest Metaverse Fashion Brands, Space Runners’ products can be easily used in metaverse initiatives and games as they are designed as NFT. Having become one of the largest Metaverse Fashion Brands on the blockchain, owners of Space Runners’ NFTs enjoy members-only benefits such as unlimited access to Solana API services, in addition to earning courtside tickets to NBA games every week.

“Pantera is proud to support Space Runner’s vision to pave a new way to interact with fashion on the blockchain.” said Paul Veradittakit, a partner at Pantera Capital. “Digital identity and self-expression will be a key component in the metaverse…Fashion will be just as if, if not more, important in the Metaverse than the real world.”

Space Runners aims to transform the “play to earn” economy that we see in game companies into Wear2Earn, where avatars that follow fashion in the metaverse will be rewarded. The company aims to position itself as the largest supplier of fashion products working with both games and metaverse initiatives.