Digital fashion house DressX has raised $15 million to continue to expand its offerings of virtual and augmented reality wearables, the company announced Tuesday. 

The Series A funding round, led by European crypto investment firm Greenfield Capital, also featured participation from Slow Ventures, Warner Music, The Artemis Fund, and Red DAO, the digital fashion collective. 

Despite launching less than three years ago, DressX counts itself among the oldest and most established players in the rapidly evolving, metaverse-oriented economy of digital wearables. DressX designs virtual fashion items to be worn by virtual avatars both on-chain, as NFTs, and off-chain, as skins in non-blockchain-based gaming ecosystems. The company also creates augmented reality (AR) outfits that real-life users can wear as filters on social media platforms.

DressX has, from its inception in August 2020, straddled both sides of Web3 discourse, prioritizing mass adoption over strict adherence to decentralized principles.

The company ruffled some feathers among the tightly-knit digital fashion ecosystem when it partnered with tech colossus Meta last July to bring digital outfits to the corporation’s off-chain Horizon World metaverse. Detractors argued the company was allying with the greatest opponent of—and obstacle to—an open, decentralized metaverse. DressX’s founders told Decrypt at the

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Author: Sander Lutz

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