Ex-Disney CEO Bob Iger Invests In 3D Avatar Start-Up Company ‘Genies’


Disney’s ex-CEO Bob Iger has decided to invest in and join the board of directors for the avatar start-up company ‘Genies.’ This is interesting considering that Disney said they were focusing on the metaverse and now Iger is throwing his name and money behind a company.

According to CNBC:

On Monday, 3D avatar start-up Genies announced that Iger is joining its board of directors and investing an undisclosed sum in the Los Angeles-based company. Founded in 2017, Genies’ mobile app allows users to create their own custom digital avatars – three-dimensional cartoon versions of themselves – for their social media profiles and, eventually, to travel the metaverse.

The press release said the following about Bob Iger:

“An industry titan in business and global leadership, Iger will help Genies navigate its mission to empower humans to create their own avatar ecosystems (avatars, avatar fashion lines, avatar worlds, and avatar experiences) in web3.

Iger offered this statement about his involvement with Genies:

I’ve always been drawn to the intersection between technology and art, and Genies provides unique and compelling opportunities to harness the power of that combination to enable new forms of creativity, expression and communication. After spending the last few months getting to know Akash [Nigam, CEO of Genies] and learning more about Genies, I am very excited about his vision and how it will be fulfilled, and I look forward to working with the entire team.

Here is a bit more about ‘Genies, Inc.’

“Genies is culture’s leading avatar technology company empowering humans to create their own avatar ecosystems. Genies provides tools (Genies Avatar Creator OS) that allows users to create their own avatars, avatar wearable fashion lines, avatar worlds, and avatar interactive experiences in web3. The company has 99% celebrity market share through its partnerships with Universal Music Group and Warner Music Group as their “official avatar and digital goods NFT provider” and has cloned thousands of talent including Justin Bieber, Migos, Cardi B, and J Balvin. Bringing the power of NFTs and crypto to culture, Genies’ avatar ecosystem NFT marketplace “The Warehouse” built with Dapper Labs, allows talent, IP, and creators to design and sell their avatar ecosystem creations to the masses. Genies has raised $100M till date from investors such as Mary Meeker’s Bond, NEA, Breyer Capital, and more.

“Bringing the power of NFTs and crypto to culture….”  I’m sure Twitter is going to love this.

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