Spatial Labs raises $10M to grow Web3 enabled consumer goods

Spatial Labs (sLABS) has raised $10 million in seed funding to expand its Web3 enabled wearables and its secondary marketplace LNQ. The company’s proprietary chip connects physical products to exclusive online and real world experiences. The technology also allows the ownership and authenticity of items to be tracked via Polygon’s blockchain.

In October 2022, the company launched LNQ. The secondary marketplace allows users to resell their items and customize the digital extras linked on the chip. For example, users can link out to social profiles, exclusive files or playlists to give each item a unique and sentimental appeal. Additionally, users can create digital avatars called Auras in the app. Scanning items unlocks other features including digital versions of physical merchandise.