Emperia, a London-based VR business that develops metaverse stores for fashion brands, has raised $10 million in a series A funding round.
Companies involved in the investment include Daphni, the Sony Innovation Fund, Background Capital, Stanford Capital Partners, and Concept Ventures.
Emperia provides fashion brands with virtual stores that can be linked to their e-commerce site to enhance the shopping experience of their customers. The virtual storefronts also allow for demographics, store activity, and purchase tracking.
Emperia worked on designing and launching metaverse stores for each of those brands, allowing users to virtually browse new product collections, interact with specific products to see descriptions and sizing information, and make purchases straight from the portal.
The metaverse and NFTs are contributing to shaping the “future of fashion,” as new generations seek new ways to establish their identity online and express themselves as they would in real life — this inspires them to experiment with digital clothes as a means of expression.
Brands are feeling the same way; from virtual fashion shows to virtual stores, many companies are becoming involved in Web3 to find solutions to Gen Z’s demands and gain a competitive edge.