Web3 fashion brand mmERCH gets $6.4 million in funding for debut collection

Web3 fashion startup mmERCH has announced a seed funding round of $6.4 million on Thursday - how will this investment impact the blockchain-based brand?

Julia Smith Last updated: March 14, 2024 12:36 EDT | 2 min read

Blockchain-enabled Web3 fashion startup mmERCH announced its $6.4 million seed funding round at a $25.7 million post-money valuation led by Liberty City Ventures Thursday, a major step forward for the Colby Mugrabi-led fashion house.

mmERCH Attracts an Assortment of High-Profile Investors

According to a Thursday press release from mmERCH, funding from the round “will be used to invest in the brand’s proprietary technology stack, expand the engineering team, and invest in subsequent collections, all with the intention to create a modern brand and platform.”

The raise drew backing from influential figures across several sectors, including Paxos CEO and co-founder Charles Cascarilla, renowned fashion designer Tory Burch, model and entrepreneur Karlie Kloss, Web3 investor Mike Jacobellis, leading Web3 fashion group Red DAO, and investor Daniel Maegaard (Seedphrase).

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6529 Holdings LLC, Christie’s Ventures, and Flamingo DAO all participated in the funding round, while world-renowned law firm Dentons served as an advisor.

mmERCH Creates One-Of-A-Kind Fashion Designs on the Blockchain

Founded by Colby Mugrabi in late 2023, the non-fungible fashion brand prides itself on its “one-of-a-kind” approach to fashion called “neo-culture,” wherein each design is created specifically for the unique wearer.

“We are thrilled to have such a caliber of investors – all of whom are true visionaries across fashion and Web3,” Founder and CEO of mmERCH, Colby Mugrabi, said of the brand’s latest funding round.

“This investment marks a strong step towards realizing our vision of ‘neo-couture,’ offering collections of unique, one-of-a-kind products that have evolving digital and physical utility,” she said. “With this latest funding, we’re excited to expand operations and redefine the future of fashion, where individuality, creativity, and community flourish without compromise.”

The fashion startup is set to debut its inaugural collection next month featuring pieces developed utilizing generative algorithms and artificial intelligence (AI). Each garment comes with a non-fungible physical copy linked to its “digital twin” through blockchain technology, which will also serve to verify the piece’s authenticity.

Own Your Style: mmERCH’s Web3 Fashion Experience

mmERCH is the latest brainchild from Mugrabi, who previously launched digital digest and creative hub Minnie Muse in 2017. She currently serves on NYU Gallatin’s Dean’s Council, guest lectures at the Parsons’ School of Design, and is a contributing writer for Air Mail and W Magazine.

“We are delighted to lead this seed funding round for mmERCH, founded and led by Colby Mugrabi. Colby is a visionary entrepreneur who has the drive, team, and resourcefulness to achieve great things,” said Emil Woods and Murtaza Akbar, founding partners at Liberty City Ventures.

“The fusion of AI and blockchain technology in fashion presents an exciting frontier,” she said. “mmERCH is challenging convention in every aspect of the fashion industry, from ideation to supply chain to the customer experience. Their commitment to pushing boundaries and redefining the future of fashion aligns with our investment philosophy of supporting supply chain growth in web3.”

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The Rise of mmERCH: Blockchain-Enabled Fashion Revolutionizes the Industry

Looking for a fashion brand that puts your uniqueness and individuality at the center? Well, look no further because mmERCH is here, revolutionizing the way fashion is created and experienced. By leveraging the power of blockchain technology and artificial intelligence (AI), mmERCH is redefining the boundaries of fashion, offering one-of-a-kind designs tailored specifically for you. And with their recent funding round of $6.4 million, led by Liberty City Ventures, this brand is set to dominate the Web3 fashion scene. Let’s dive deeper into what mmERCH has to offer and how it’s transforming the fashion industry.

mmERCH Attracts High-Profile Investors

In the world of fashion, having high-profile investors backing your brand is a strong testament to its potential. mmERCH has managed to attract influential figures across various sectors, including Paxos CEO and co-founder Charles Cascarilla, renowned fashion designer Tory Burch, model and entrepreneur Karlie Kloss, Web3 investor Mike Jacobellis, leading Web3 fashion group Red DAO, and investor Daniel Maegaard (Seedphrase). With such support from visionaries in fashion and Web3, mmERCH is poised for success.

Creating One-Of-A-Kind Fashion Designs on the Blockchain

What sets mmERCH apart from other fashion brands is its unique approach to design. Embracing the concept of “neo-culture,” mmERCH creates custom-made pieces that are tailored specifically for the individual wearer. Each design is carefully crafted to reflect the wearer’s personality, making it truly one of a kind. And it doesn’t stop there. By utilizing generative algorithms and AI, mmERCH pushes the boundaries of creativity, delivering extraordinary fashion pieces that are both physically and digitally linked through blockchain technology. This not only ensures the authenticity of each garment but also opens up a world of possibilities for the future of fashion.

Owning Your Style: mmERCH’s Web3 Fashion Experience

Imagine a fashion brand that not only caters to your unique style but also empowers you to take ownership of it. mmERCH is precisely that. Founded by visionary entrepreneur Colby Mugrabi, mmERCH is on a mission to redefine the future of fashion. Their “neo-couture” collections offer a range of products that evolve digitally and physically, allowing you to express your individuality without compromise. With their upcoming inaugural collection, mmERCH is set to make a splash in the fashion world, showcasing the perfect harmony between technology and style.

The Future of Fashion: Insights and Analysis

As mmERCH continues to shape the future of fashion, it’s important to understand the broader implications and trends in the industry. The fusion of AI and blockchain technology is just the beginning. With the rise of Web3, we can expect a fundamental shift in how fashion is created, experienced, and valued. The concept of “neo-culture” introduced by mmERCH opens up new possibilities for personalized fashion, where each piece tells a unique story. This trend towards individuality and authenticity will undoubtedly shape the industry in the coming years.

Frequently Asked Questions

Q: How does blockchain technology contribute to mmERCH’s fashion designs?

A: Blockchain technology plays a crucial role in ensuring the authenticity and uniqueness of mmERCH’s fashion designs. Each garment is linked to its digital twin through blockchain, creating a secure and transparent system that verifies the origin and ownership of each piece. This integration of blockchain technology adds value to the overall fashion experience, providing customers with confidence and assurance in their purchases.

Q: What is the significance of mmERCH’s collaboration with high-profile investors?

A: The collaboration with high-profile investors brings credibility and expertise to mmERCH’s brand. It signals confidence in the brand’s vision and potential for success. Additionally, the backing of influential figures opens doors to strategic partnerships and industry connections, further propelling mmERCH’s growth in the fashion market.

Q: How does mmERCH use artificial intelligence in its fashion designs?

A: mmERCH utilizes artificial intelligence in its design process through generative algorithms. These algorithms generate unique patterns, shapes, and forms, creating one-of-a-kind fashion pieces that reflect the wearer’s personality. By leveraging AI, mmERCH pushes the boundaries of creativity, offering customers truly innovative and personalized fashion experiences.

Q: What is the outlook for the future of Web3 fashion?

A: The future of Web3 fashion is promising. With the integration of blockchain, AI, and other emerging technologies, we can expect a paradigm shift in the way fashion is created and consumed. The concept of personalized fashion, as exemplified by mmERCH, will become more prevalent, allowing individuals to express their unique style and story. Additionally, the transparency and authenticity provided by blockchain technology will reshape supply chains and consumer trust in the industry.

Q: How can I stay updated on mmERCH’s latest developments?

A: To stay informed about mmERCH’s latest developments, you can follow them on their social media channels or visit their official website. They regularly share updates on new collections, collaborations, and industry insights. You can also sign up for their newsletter to receive exclusive content and announcements directly in your inbox.

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References: – Minnie Muse Official Website – Pieces Developed Utilizing Generative Algorithms – Blockchain Technology – Follow Us on Google News

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Now that you’re up to date on mmERCH’s groundbreaking approach to fashion, why not share this article with your fashion-savvy friends? Let them know about the future of Web3 fashion and how mmERCH is leading the way. 🚀💃🎉

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