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Why NFTs? Ayzenberg’s VP Of Digital Explains
Imagine having a deed to a coveted work of art or a one-of-a-kind baseball card that can’t be forged, duplicated or lost because it exists in a permanent database. This kind of deed exists. It’s called an NFT, which stands for non-fungible token, and it’s creating a frenzy in the digital world.
By definition, an NFT is a digital certificate of authenticity for a real or virtual object. This digital file is stored on a digital ledger, also known as a blockchain network, that certifies it to be unique and interchangeable. So, what’s all the hype about these tokens? Basically, NFTs create digital scarcity, enabling people to acquire and then flaunt collectibles or certain assets. They give people the power to say, “Hey, I own this and it’s the only one like it in the world.” Needless to say, NFTs as technology are a really smart idea and definitely have a future in a world that’s increasingly being dominated by tech and th
Digital avatar startup Genies raises $65M from Bond, Dapper Labs and Coinbase
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A startup that lets people bring their own virtual selves to life, Genies Inc., today announced $65 million in funding to expand its virtual identity marketplace and digital swag.
With this new capital, Genies seeks to build out its avatar technology and hook into the wave of interest in non-fungible tokens. NFTs allow people to use distributed ledger blockchain technology to own, buy, sell and trade digital artwork objects on marketplaces.
To do this, the Genie avatar system will continue to build out its own digital goods marketplace on Dapper Labs’ Flow – a blockchain platform built for apps, games and the digital assets that power them.
Digital avatar startup Genies raises $65M from Bond, Dapper Laps and Coinbase
SHARE
A startup that lets people bring their own virtual selves to life, Genies Inc., today announced $65 million in funding to expand its virtual identity marketplace and digital swag.
With this new capital, Genies seeks to build out its avatar technology and hook into the wave of interest in non-fungible tokens. NFTs allow people to use distributed ledger blockchain technology to own, buy, sell and trade digital artwork objects on marketplaces.
To do this, the Genie avatar system will continue to build out its own digital goods marketplace on Dapper Labs’ Flow – a blockchain platform built for apps, games and the digital assets that power them.
Avatar startup Genies scores $65 million in funding round led by Mary Meeker’s Bond
Over the past several years I’ve covered my fair share of upstart avatar companies that were all chasing the same dream building out a customizable platform for a digital persona that gained wide adoption across games and digital spaces. Few of those startups I’ve covered in the past are still around. But by netting a string of successful partnerships with celebrity musicians, LA-based Genies has come closer than any startup before it to realizing the full vision of a wide-reaching avatar platform.
The company announced today that they’ve closed a $65 million Series B led by Mary Meeker’s firm Bond. NEA, Breyer Capital, Tull Investment Group, NetEase, Dapper Labs and Coinbase Ventures also participated in the deal. Mary Meeker will be joining the Genies board. The company didn’t disclose the Genies’ most recent valuation.