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- Former Disney chairperson, Bob Iger is making investment in Metaverse startup, Genies, and joins its team as board of directors advisors.
- Genies is an organization known for creating digital avatars for virtual universe, allowing folks to make their creations come alive.
- Bob Iger served as a chairperson for Walt Disney, working for 15 years before taking role of executive chairman back in February 2020.
Bob Iger Throwing Big Bucks In Metaverse
Former Chief Executive Officer of Walt Disney organization, Bob Iger made an announcement on Twitter handle today that, he will get on deck as an advisor for Genies board of directors.
Genies is a virtual avatar platform developed on Flow blockchain, a protocol for large-scale cryptocurrency games as well as NFT collectibles.
Bob Iger acted as Disney CEO from 2005 to 2020. Now at Genies, he is coming in as a counsel for organization.
Iger expressed his thrill to join such an innovative organization empowering folks to make mobile applications for web3.
Since its inception in December 2016, Genies, based in Los Angeles, has piled up $100 million in funding, including a $65 Million funding round previous year led by Miami Group.
In the same year, Genies joined forces with Warner Music Group and Universal Music Group to become official NFTs and avatar providers for artists at music labels.
Genies Avatars Are A Blend of Distinct NFTs
Akash Nigam, CEO, and co-founder of Genies, describes Genies avatars as integration of distinct NFTs sport by a virtual avatar that folks can purchase, trade, or sell with rest of collectors.
During an interview with a news agency, Nigam elaborated that after meeting Bob Iger, he offered mogul a chance to get inside of hood of Genies to play with entire platform technology and attain an understanding of what this facility is all about.
Iger posted while displaying his latest avatar, that he is learning a lot and is eyeing to contribute significantly to Genies.
As per Nigam, notion of Genies came after he ran into an avatar online, and thought that such pictures can encapsulate folk’s feelings, thoughts, and emotions in a way that other kinds of internet interaction don’t attain.
Nigam explains that their objective is to deliver avatars for masses, adding that, they believe that these virtual avatars are going to be an upcoming form of communication.
To this date, Genies has piled up $100 Million from investors involving Breyer Capital, Mary Meeker’s Bond, and New Enterprise Associate.
Genies also possess an NFT marketplace dubbed “The Warehouse,” which lets talent and creators modify and sell their virtual avatars.
Apart from joining forces with Marner Music Group and Universal Music Group, as mentioned above in article, it has created virtual images of a handful of celebrities such as Cardi B., Justin Bieber, and Migos, which are traced as NFTs.
This step taken by Bob Iger is a great addition for Genies, as he has served as Disney’s CEO, an organization that has always picked up franchises whom it transformed into Billion Dollar franchises, such as Marvel Cinematic Universe, Star Wars, etc.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
