Farfetch, the online luxury marketplace, has partnered with European venture capital firm Outlier Ventures to launch the Dream Assembly Base Camp, an accelerator program focused on Web3 fashion startups. This collaboration aims to define the future of the luxury industry by supporting and funding innovative startups in the realm of Web3 luxury commerce.
The Dream Assembly Base Camp program is a 12-week virtual accelerator that focuses on digital fashion, tokenized loyalty, immersive experiences, and the creator economy. It targets startups that either provide a Web3-related solution for luxury fashion or aim to expand their Web3 capabilities to the fashion industry. Selected startups will receive a $150,000 grant, access to Farfetch and Outlier Ventures’ networks of mentors and investors, and guidance on fundraising, tokenomics, community growth, and marketing.
Outlier Ventures has been accelerating Web3 startups since 2019 through its Base Camp program. With over 10 cohorts, notable alumni include DIAData, Boson Protocol, Auroboros, Gravity Layer, NFT42, Cryptio, and Crucible, among others. These startups have collectively raised over $350 million in seed capital and have a combined valuation of more than $2.5 billion.
Farfetch and Outlier Ventures are accepting applications for the Dream Assembly Base Camp until mid-August, with the chosen participants to be announced at the end of September when the program commences. In the past, some graduates from the program have gone on to partner with Farfetch and its brands, including sustainability ratings company Good On You, resale platform Luxclusif, repair service The Restory, and donation service Thrift+.
The second cohort of the Dream Assembly Base Camp program will focus on key areas critical to growing the opportunity for Web3 in luxury, such as luxury data infrastructure, community tools, digital fashion experience, self-representation, and sustainability. By investing in and nurturing these startups, Farfetch and Outlier Ventures aim to revolutionize the luxury fashion industry and address pressing issues like counterfeiting, pollution, and waste created by design prototyping.