BNV.ME Raises US$4 Million in Series A Funding Round Led by Animoca Brands to Take Fashion into the Metaverse

By AIT News Desk On Feb 14, 2022

Brand New Vision Ltd, the company behind BNV.ME, the leading platform taking fashion into Web3.0 through 3D Product Creation, NFT sales, and Future Wearability, has successfully completed a US$4 million Series A funding round led by Animoca Brands.

Animoca Brands is a global leader in gamification and blockchain with a large portfolio of over 150 investments in NFT-related companies and decentralized projects that are contributing to building the open metaverse.

This raise will enable BNV.ME to further expand its capabilities for creating elevated NFT experiences across the metaverse offerings that already exist and those that are under development, as well as growing its visibility and presence across the worlds of fashion, gaming, and crypto communities. BNV’s aim of true interoperability and the strong pipeline of high-quality AAA metaverse products and games under development indicate there is an exciting future for digital fashion.

In addition to Animoca Brands as lead investor, this funding round also included a number of influential funds and individuals including AngelHub, K3, Arkstream Capital, Sparkle Ventures, Grizzly Capital, Meteorite Labs, Startive Ventures, and MyAsiaVC Web3 Fund. Also participating were Cube Entertainment from Korea, Miss Bitcoin (the leading crypto evangelist in Japan since 2011), Michael Kazam (Paris-based founder of Le Book), and Alex Moukas (the founder and CEO of Wappier), plus other funds and private investors.

Richard Hobbs, the founder of BNV, said: “It’s great to have the support of Animoca Brands, a value-add investor which contributes powerfully to our vision of bringing digital fashion into the open metaverse. In addition to the new investors we have already named, there are also others from the wider crypto and fashion worlds that are joining us on this journey and we welcome them all.”

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Hobbs continued: “The funds we raised will allow an expansion of the teams at HQ and around the world. Fashion is a global business and we will be adding to the current representation we already have in London, New York, LA, Amsterdam, Stockholm, Seoul and Hong Kong.”

Speaking about upcoming initiatives, Hobbs said: “We will be introducing a series of new NFT drops with amazing designers and brands on BNV.ME in the coming weeks, particularly leading up to events around the next series of Fashion Weeks in the major capitals. We will also be announcing our first social token which will give holders access to multiple experiences and opportunities, not just in virtual worlds but in the physical one too.”

Yat Siu, the executive chairman and co-founder of Animoca Brands, commented: “The opportunity for digital fashion is significant, and BNV has built an industry-trusted team to help fashion brands enter the world of digital property rights and NFTs. We are pleased to lead this investment, which will help to introduce more participants to the concept of the open metaverse.”

Morgan Stanley predicts the metaverse will be a US$8 trillion commercial opportunity; digital fashion will play a significant part and BNV plans to be at the forefront of that sector. BNV is already a trusted partner to fashion brands and designers who recognize the opportunity of the metaverse but need help navigating the fast-moving Web3.0 world.

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