As retail moves further into the metaverse, businesses are seeing web3 as a worthy investment. The rise of digital fashion will soon be funded by luxury marketplace Farfetch, the company announced, in partnership with metaverse brand accelerator Outlier Ventures. The two companies are rehauling the former’s Dream Assembly program — now called Dream Assembly Base Camp (DABC) — after a two-year hiatus to invest $150,000 in five to 10 startups that provide web3 solutions for luxury fashion.
Dream Assembly Base Camp, which will be held entirely virtually, has been designed to provide mentorship, networking, and support to luxury fashion and lifestyle startups looking to expand web3’s exclusive offerings. The 12-week project will focus on digital fashion, immersive experiences, the creator economy, and tokenized loyalty, the latter of which has already been practiced through the luxury world’s growing obsession with NFTs.
