Pantera and Polychain Lead $10M Bet on Metaverse Fashionistas

“Fashion will be just as – if not more – important in the metaverse than in the real world,” Pantera’s Paul Veradittakit said.

AccessTimeIconMar 7, 2022 at 3:00 p.m. UTC
Updated May 11, 2023 at 3:59 p.m. UTC

Metaverse fashion brand Space Runners has raised $10 million in a funding round co-led by Polychain and Pantera Capital.

Also participating in the seed round, announced Monday, were Accel and Jump Crypto, as well as angels like Animoca Brands Chairman Yat Siu and Twitch co-founder Justin Kan.

High fashion and prestigious wearables in the metaverse – an immersive environment composed of virtual worlds, gaming and decentralized commerce – is becoming a big deal, with Ethereum-based Decentraland due to host its first Metaverse Fashion Week later this month.

Space Runners, which launched its first NBA Champions Sneaker Collection with former National Basketball Association champions Kyle Kuzma and Nick Young in December, began minting non-fungible tokens (NFT) on the Solana blockchain but now plans to bring its vision of a “fashion metaverse” to Ethereum and other chains.

CoinDesk - Unknown
A pair of virtual kicks. (Space Runners)

“We are designing and launching fashion items as NFT collections, which is ongoing,” Space Runners CEO Deniz Özgür said in an interview. “But we are also launching the first phase of our fashion metaverse. Rather than just an urban cyber style, we are giving more weight to beauty and aesthetics, and we’ve been collaborating with some of the most popular fashion agencies in New York.”

Space Runners’ fashion metaverse will not cohabit existing virtual worlds, but will be a separate space, known as “Spaceverse,” with its own currency, Özgür explained. It’s a proposal that can’t come fast enough for crypto and NFT-beguiled fashion brands keen to stake out a spot in a metaverse setting, she said.

“Many of the fashion brands we’ve been in touch with come with great stories,” said Özgür. “Like they want to build some kind of connection between their physical shops and their digital spaces and are coming up with ideas like putting a QR code in fashion items that is a gem or something like that for gamification with their customers.”

Pantera Capital partner Paul Veradittakit said Space Runners’ vision is paving a new way to interact with fashion on the blockchain.

“Fashion will be just as – if not more – important in the metaverse than in the real world,” Veradittakit said in a statement.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.