Space Runners

About Space Runners

Space Runners, founded in March 2021 by Deniz Ozgur and Won Soh, operates at the intersection of fashion, technology, and the metaverse. The company functions as a fashion-tech platform, enabling brands and celebrities to design and launch digital fashion items as NFTs, which are usable across various virtual environments like metaverses, games, and social media.

The founders' backgrounds are complementary to the firm's direction. Deniz Ozgur, an entrepreneur with a background in economics and digital marketing, has experience as a growth hacker and serves as a mentor at Farfetch, focusing on personalization and digital experiences. Won Soh brings a diverse background with experience at the United Nations, Google, and as a Senior Engagement Manager at McKinsey & Company, in addition to co-founding a social metaverse platform prior to Space Runners.

The company's business model is centered on creating and selling digital wearable NFTs through collaborations. A significant achievement occurred in December 2021, when Space Runners launched its first collection with NBA players Kyle Kuzma and Nick Young, selling 10,000 units in just nine minutes. This success was followed by a $10 million Series A funding round in March 2022, led by Polychain Capital and Pantera Capital. The firm's revenue is generated from these NFT sales, with an estimated annual revenue of $2.3 million. Collaborations are a key part of their strategy, having partnered with luxury brands like Balmain for Paris Fashion Week and planning to work with others like Gucci and Louis Vuitton.

Space Runners' core product is a platform for designing and launching digitally wearable NFTs, primarily sneakers, viewable through augmented reality. Beyond the NFTs themselves, the company is developing a broader ecosystem. This includes an NFT marketplace for trading assets with low fees and a gaming dimension where users can battle with their NFTs, which have distinct characteristics like power and speed. The roadmap includes the development of SPACEverse, a fashion-focused metaverse, which will incorporate a "wear2earn" economy, allowing users to showcase NFTs, attend events, and play games. Ownership of their NFTs also grants access to an exclusive club with benefits like event tickets and merchandise.