Drest, the mobile gaming company, has raised £15MM in funding to continue the genre-defining development of its new product proposition, Drest Game 2.0.
WHO: Launched in 2019, Drest merges the creative worlds of luxury fashion, beauty, and lifestyle with the endless possibilities of the metaverse, offering players the chance to exhibit and improve their styling talent using the latest collections to style hyperrealistic avatars. Through its in-game challenges, Drest is a platform for user-generated content combining gamification with brand marketing and partnership opportunities. It enables its stakeholders to access and interact with new and highly engaged audiences.
WHY: This capital is earmarked for Drest's evolution across gaming, media, data, and e-commerce, as the company prepares to roll out globally a highly improved, metaverse-enabled version of its current product, which will include a series of new features, with the aim to become the leading creative platform for fashion, entertainment, and lifestyle gamification. Further plans include scaling Drest through the developer ecosystem, marketing channels, and strategic revenue streams as well as building on the user base growth experienced by the platform. Additional games within the web3 and lifestyle space are being explored and will enter into a research & development phase over the next 18 months.
IN THEIR OWN WORDS: Graham Edwards, co-founder and Co-Chair, said, "We're delighted to be able to support Lucy in her quest to bring the merged worlds of gaming and fashion to an excitingly large global audience."
Lisa Bridgett, CEO Drest, said, "We are thrilled to have secured investment to help us scale Drest, especially in such a tough market. This is testament to the strength of our product delivery and pipeline of ideas. We are now ready to take the business to the next level, and offer a new one-of-a-kind experience to our users while maintaining the core elements of the game. There is an undeniable interest in gaming from the luxury fashion and lifestyle industries and we are very well positioned to cater to this increasing demand. We very much look forward to the next chapter."
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