Syky, a digital fashion startup founded by former Ralph Lauren executive Alice Delahunt and supported by Alexis Ohanian’s Seven Six Capital, is set to launch a retail marketplace bridging the realms of digital and physical fashion. Among the initial offerings of this platform are NFTs from emerging designer Fanrui Sun, known under her label Sunw. Sun, the Chinese digital artist based in the UK, is one of ten brands participating in Syky’s year-long incubation program, called The Syky Collective, which includes notable names like Glitchofmind and Felipe Fiallo.
In collaboration with the British Fashion Council, Skyky’s inaugural celebration will provide a platform for these designers to present their works for purchase. The array of offerings will encompass digital-only apparel and accessories, as well as physical “one-of-ones” and augmented reality fashion. Consumers can buy, flaunt, and resell their purchases on the Syky platform, facilitated through their cryptocurrency wallets. The company introduced its inaugural NFT, the Syky Keystone, earlier this month, encouraging holders to create profiles on the Syky platform ahead of the platform’s launch.
Alice Delahunt, Syky’s CEO and founder, describes this venture as a transformative move for the fashion industry, aligning with their long-term business model. Their vision is to function as a forward-thinking entity akin to a next-generation LVMH, nurturing luxury fashion brands and earning revenue from their sales, all within a digital-first ethos.
Sun, the digital designer featured in the Collective, emphasises the opportunities provided by this platform to focus on brand planning and digital fashion creation.
Syky will operate on a commission structure, earning 10 per cent on primary drops and a 3 per cent marketplace fee on secondary peer-to-peer sales. The original designer will receive 10 per cent of the transaction value. Beyond transactions, collectors can exhibit their digital fashion via their profiles, fostering a social experience within the platform. Syky stands out as a prominent example of a Web3 fashion platform designed by a luxury fashion insider for mainstream consumers, offering a fresh perspective on fashion commerce, unburdened by existing physical supply chains.
