/

Genies Raises $150 Million to Push Valuation to Over $1 Billion

Fri, 15 Apr 2022 11:00:44 +0000

Genies Valuation Raise Funds Avatar NFT

Industry leading metaverse avatar platform Genies has raised $150 million in a recent funding round, pushing its overall value to over $1 billion. Global technology investment firm Silver Lake led the round, with participation also coming from Bond, NEA, and Tamarack Global.

With aid from its employee portfolio that now extends beyond 100, the company says it will use the funds to continue rolling out easily accessible avatar creator tools that enable users to create their own avatars, avatar fashion collections, avatar homes and general avatar experiences.

In speaking on the new injection of funds, the company’s CEO said: “We believe avatar ecosystems are going to shape web 3 the same way that mobile apps defined Web2. With every advancement of the internet, an expansive new region of entrepreneurial skill sets is born. In web 3, Gen Z avatar ecosystem builders are going to be the leaders of innovation and, through our creator tools, we strive to empower their wildest imaginations, ideas, and experiences as avatar creations”.

With such a high valuation, the prospect of Genies avatars being integrated into gaming ecosystems would’ve been on many people’s mind, however for now, such plans are yet to come to fruition. 

Nonetheless, the platform has worked wonders since its previous $65 million funding round back in May 2021, as it has not only struck multiple illustrious partnerships with the likes of Universal Music Group and Dapper Labs, but it has also amassed a 99% share in the celebrity avatar market.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post Genies Raises $150 Million to Push Valuation to Over $1 Billion appeared first on NFT Plazas.

Thetoken Sniper

To list cryptocurrency projects first apply through our contact page. After applying the project, we will review and accept your project. When accepted it will be visible on the new listing page instantly but not on the top of the page. To be top of the page, you need to follow our ranking process. Our ranking process is simple. The highest votes will hold the top position on the websites and get attention from all the visitors. A higher vote means higher popularity. As votes matter, get your community to vote on your project. You can vote for your coins and events every 24 hours. The voting process is pretty simple. Just click the button named “Vote” on the right side of your coin. You can promote your coins and events here also. To do this you have to contact us using our contact form.

Home Contact Events Twitter Term and privacy
Copyright Reserves © 2022. All Rights Reserved.