Metaverse Avatar creator and designer startup Genies makes a record-breaking history by raising $150M in the Series C. Silver Lake, the investor behind the funds, considers Genies’ value worth $1 billion.
Genies began as a vision to represent Gen Z by launching uniquely designed avatars on Metaverse. Genies are one of the leading avatar startups on Web3 that plans on dominating the Metaverse with their custom-made avatar collection.
The startup has already collaborated with various celebrities like Shawn Mendes, Migos, Justin Bieber, Rihanna, J Balvin, and Cardi B. Genies also worked with Warner Music and Universal Music Group to launch wearable NFT items and digital avatars.
Recently, Genies also released an NFT wearable marketplace called The Warehouse on the Flow blockchain by Dapper Labs.
Seeing the popularity and originality of the startup which had been raising money to fund its future projects, Silver Lake decided to invest in Genies. According to the CEO of Genies, Akash Nigam, the funding is worth $150M fulfilling all their requirements to further its projects in Web3.
Unlike other tech startups, Genies choose the futuristic idea of designing virtual avatars for various individuals in the Metaverse. With Silver Lake’s investment, Genies rose to rival Roblox, a game where users can dress up and control virtual avatars.
Silver Lake also has great anticipation for Genies’ future projects. The company values the tech startup worth $1B. This has turned the world’s attention and Genies emerged as a bar of gold within silver coins.
Egon Durban, the co-CEO of Silver Lake says, “They make it possible for people to build the avatar ecosystems that we believe will drive the next evolution of human expression, communication, and creativity,”
Since Genie has past experience working for NFTs and virtual avatars, it is more than ready to enter the Web3 market. However, the startup is still familiarizing itself with Web3 principles.
With the slogan of “be the digital identity for humans,” Genies plans on giving rights to their avatars based on how they create, dress, and house, building an avatar ecosystem.
In the near future, Genies will also rise to compete against The Sandbox, revolutionizing the NFT avatar world completely, and Silver Lake is the first company to recognize its talent.
Ergon says, “Sometimes it’s a small company like this, and other times it’s huge, large companies that need to be transformed.”
Genies is set to release the best of the best avatar ecosystems that will win the hearts of NFT and Metaverse fans.