Digital avatars developer Genies raised $ 65 million to build an NFT digital avatar market on the Flow blockchain led by several major investorsincluding flow developer Dapper Labs.
SEC files dated May 3 show this The California-based company recently closed a $ 65 million Series B financing round led by investment firm Bond, along with Coinbase Ventures, Tull Investment Group, Breyer Capital and Dapper Labs..
The $ 65 million will be used to develop Genies’ NFT marketplace, where users can create and trade tokenized avatars.in addition to the NFT clothing worn by the avatars. Genies expects to launch its market in beta in the third quarter of this year.
In a tweet that revealed the funding, Geniuses explainedIt hopes to become the only “wearable virtual identity in the entire digital world” that allows users to express themselves within the virtual metaverse.
Genies was released in 2017, with the original aim of their avatars being used in centralized social networks and messaging platforms. April 29th, geniuses announcedThat would partner with Dapper Labs to launch a Genies Marketplace on the Flow blockchain.
Put NBA Top Shot aside … @dapperlabs has a new favorite project. The Genies Marketplace is well on its way to launching beta this summer. Https://t.co/Oui29g1sqa
to???? GENIES (@genies) April 28, 2021
In an interview with the gaming division of VentureBeat, Akash Nigam, CEO of Genies, stated that this is the case The company is moving to a wider audience and originally planned to offer celebrities custom avatars that can be used at events and digital product launches.
Nigam explained that The platform will contain simple and intuitive tools that will allow children aged six and over to “create their own collection of digital and clothing items and then bring it to market and also sell to the masses. “
March, Genies launched an NFT series to commemorate the signing of professional footballer Mesut Ozil by Arsenal FC at Galatasaray: This was the company’s first foray into the non-fungible token space. The tokens were auctioned on Nifty Gateway, and Genies sold 518 tokens for $ 670 eachThat’s around $ 347,000 in total.