Genies Raises $65 Million For Avatars and Virtual Identities.
Customized and long-term virtual identities are now becoming a reality as investors are showing interest in avatar creators. Genies is famous for its digital goods in avatar creations for the purpose of virtual identities. The company wants to provide virtual identity to people to express themselves in a better way in the digital world.
Genies came into the limelight when celebrities approached it to get themselves an avatar for their virtual events, concerts, song releases, and more. This virtual avatar and identity trend was set during the worldwide lockdown due to the pandemic. With physical events coming to a full stop, artists resorted to the digital world to generate revenue. And Genies provided celebrities with virtual identities and exciting avatars to look unique and attractive.
Avatars and Virtul Identities
Now, Genies is expanding and has launched a beta version which will include a wider range of consumers. For this purpose, an investment round was conducted which was lead by Bond with participation from Breyer Capital, NEA, Tull Investment Group, Dapper Labs, NetEase, and Coinbase Ventures. Mary Meeker started the Bond along with other former leaders of Silicon Valley and former members of Kleiner Perkins Digital Growth Fund leaders in 2018, Bond has now raised more than $3.25 billion across two funds.
The investment raised will prove as a jet propellant to the technology behind Genies’ virtual identity and avatar system. Moreover, the investment will also be used to further grow and strengthen the digital goods marketplace on Dapper’s Lab Flow platform. This step will make the virtual identity and avatar system more secure as it will become compatible with NFTs. It will allow users to create digital items that will have a unique identifiable standing with help of blockchain technology. In this way, each individual will have a unique digital item, identity, avatar, and more recorded in a secure and transparent digital ledger.
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