Copenhagen start-up OWND has secured US $ 7,50,000 in pre-seed funding to launch its fashion NFT platform, which aims to offer customers exclusive benefits such as physical items, in-person meet-ups and more.
The pre-seed round was co-led by Nordic VCs by Founders and Skyfall, with participation from Steel DAO, a blockchain tech community funded by Bessemer Venture Partners. Unlike competitors OpenSea and Looksrare, OWND’s clothing NFTs are handpicked by its team from major brands like Nike, Adidas and Gucci.
The platform is set to launch in April 2023, with the added ease of access allowing customers to buy OWND NFTs using Apple or a credit card. Co-founders Anker Bach Ryhl and Mads Lunau Liechti created OWND after encountering too many obstacles on crypto platforms.
Anker said, “Investing should be easy. You shouldn’t have to sign up for three different platforms and be an expert on all things crypto just to get started. Many would like to invest in NFTs, but they haven’t taken the leap yet due to the technical complexity of blockchain technology. OWND makes it as easy to buy a Nike NFT as it is to buy a Nike sneaker.”
Casper Bjarnason of Founders added, “The previous cycle gave us a glimpse of the potential of NFTs, but with limited and speculative use cases. We believe the next bull run in the space will be driven by utility and culture. There’s a huge potential in fashion where NFTs will have cultural significance and become core parts of people’s digital and social identities.” Additionally, he added, “The internet native Gen Z will mainly drive the adoption and OWND is already deeply rooted in the space.”
