Experts

Megan Kaspar is a co-founder and managing director of Magnetic, a blockchain and cryptocurrency investment firm.

As a poster girl for the trend, Kaspar is a trailblazer with a habit of racking up world firsts. In October 2021 she was the first person to wear non-fungible token (NFT) fashion on live broadcast television, flaunting a series of digital costume changes throughout the interview, including gold earrings programmed to track her head movements so they mimic the swing of a real pair.

Then, in January 2022, she was featured on the front cover of Haute Living’s Miami issue wearing a digital outfit by the luxury designer Fendi, seamlessly superimposed onto her original photoset. On both occasions she was dressed by DressX, a digital fashion platform in which Kaspar invested, which uses 3D software to create and simulate virtual garments that look like real clothing.

In crypto since 2012, Kaspar was early to get into bitcoin as well as ether, SOL and MATIC. More recently, she became a founding member of the first-ever fashion-focused decentralized autonomous organization, Red DAO, which bought the most expensive fashion NFT to date – The Doge Crown by Dolce & Gabbana. Purchased for 423.5 wrapped ether (wETH, worth $1.27 million at the time) from NFT marketplace UNXD, the crown was part of the world’s first couture NFT drop by a luxury brand. Of the nine NFTs in the groundbreaking collection, Red DAO purchased three.

The Doge Crown was a Web 3 move made by a traditional fashion house, with the holder of the NFT entitled to both digital and physical versions of the crown as well as exclusive access to a range of real-world experiences. Kaspar reveals, however, that over 90% of the digital fashion acquired by Red DAO is from digital-native designers.

Portfolio

CypherHunter Plus

Megan Kaspar

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Co-Investors