Genies has raised $65 million to build a non-fungible blockchain avatar platform. The company, which has partnerships with entertainers such as Michael Jackson and Justin Bieber, raised the money with the help of Bond, a venture capital firm co-founded by Mary Meeker. Dapper Labs, which built the NBA Top Shot app, also participated in the fundraising. The company uses the Flow Blockchain for its avatar platform.
Genies raised $65 million in funding
In its latest funding round, Genies has received $65 million from the Mary Meeker-led Bond Capital. Other investors in the round included Dapper Labs, Coinbase Ventures, and NEA. The company will use the funding to expand its blockchain strategy and continue to roll out its avatar creator tools. Currently, Genies has more than 100 employees and has partnered with Universal Music Group and Warner Music Group.
Genies aims to launch a secondary digital marketplace in 2021 and sell digital goods to users. Users will be able to purchase items from a collection and trade them on other digital marketplaces. The company is also working on ways to get into celebrity partnerships to expand its reach. Genies raised $65 million in funding to fund its product development and expansion.
The new funding will help Genies continue to expand their avatar creator, which allows users to express their identity in virtual ways. The company plans to become the first company to offer its users full virtual identities. The company has already begun digitizing famous people during events. The company has already secured funding from artists like Rihanna and Cardi B. They also have partnerships with Universal Music Group and Warner Music Group for 2021.
Genies was founded in 2017 and provides tools for the creation of stylized avatars. This technology allows users to build their digital personas using their smartphones. The app is available for both iOS and Android smartphones. Users can dress up their digital personas with various clothing and facial accessories.
The company also plans to open a marketplace for hundreds of partners. This will enable developers to use Genies technology within apps and create a portable identity for their customers. Genies is another company that has been making headway in the metaverse. The startup’s funding indicates that the broader space is paying attention to its product.
Is it a bet on Dapper’s brand of blockchain?
Genies has made a bet on blockchain to sell digital apparel. The company has already tested selling digital apparel inside a native mobile app. This foray into NFT economics could be a big bet on the Dapper blockchain. Though less decentralized than other blockchain networks, it could offer lower fees and better transaction capacity. It also provides developers with a friendly platform with built-in user benefits.
Dapper Labs is one of the leading companies in the NFT industry, with projects including NBA Top Shot, which has already generated $500 million in trading volume. This is the company’s next project, and it recently announced a $65 million Series B round led by Bond Ventures, NEA, NetEase, Breyer Finance, and Tull Investment. Dapper Labs is also working with Genies, the avatar creator startup. The two companies are working together to create a digital avatar platform that will sell resellable items online. The product is currently in beta but a full-fledged version of Genies is expected in Q3 2021.
Genies has raised $65 million in funding to launch its nonfungible token (NFT) platform. The company has partnerships with a who’s who of entertainment, and it will allow users to customize their 3D cartoon avatars. The company is also looking to court developers to get back on its feet.
Genies raises $65 million in funding for its nonfungible token (NFT) platform
Genies, a startup that provides styled virtual avatar creation, has raised $65 million in a Series B funding round led by Mary Meeker’s Bond firm. The investment round also included investments from Coinbase Ventures, Dapper Labs, NEA, and Tull Investment Group. The company also announced a partnership with Universal Music Group in December. In the announcement, Genies did not disclose the latest valuation of its nonfungible token (NFT) token platform.
The NFTs are a type of cryptocurrency that is used to sell digital products. Genies is planning to open a marketplace for developers that will allow developers to integrate its technology in their own apps. This technology will help users create a portable digital identity. The technology is based on a blockchain, which keeps records of past transactions and makes it almost impossible for tampering with the information. While NFTs have been popular for years in cyberpunk and science fiction literature, the technology has yet to reach the mainstream.
Dapper Labs is one of the most prominent names in the NFT market. Its NBA Top Shot platform has generated over $500 million in trading volume. Dapper is now focused on building a NFT marketplace for Genies. Its platform features cartoon avatar creation and trading, and has celebrity endorsements. The startup recently announced a $65 million Series B funding round led by Bond. The money will help Genies launch its NFT marketplace and further develop the technology behind avatars.
It has partnerships with a who’s who of entertainers
Dapper Labs is a Vancouver-based venture-backed startup that has partnerships with a who’s who in entertainment. Its portfolio includes NBA legend Michael Jordan and current players and funds like Josh Hart, Michael Carter-Williams, Udonis Haslem, and Shad Mitchell. The company also counts 2 Chainz and former NBA player Derrick Rose among its investors.
It will allow users to outfit 3D cartoon avatars
Toke thinks a centralized metaverse is bad for users and developers, because only a handful of companies would make the rules and make avatars. So he wants to make the avatar system open to developers and individual creators. Last year, he said that 24 companies were using the Toke avatar system. But that spiraled.
Genies’ Avatar Agency already works with thousands of celebrities and athletes from the NFLPA to the MLBPI and the NBPA. The company has partnered with various companies that produce digital goods for their celebrity clients. It is also partnering with Giphy and Gucci to offer marketplaces for digital goods.
The company is currently developing 2D cartoon avatars and is planning to release 3D avatars later this year. It is also preparing to release a software development kit (SDK) to enable developers to create and monetize avatars. In addition, it will launch an avatar social network that lets users communicate with other avatars.