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- Ready Player Me offers services to create virtual avatars for digital worlds.
- The company raised 56 Million USD in a funding round led by Andreessen Horowitz.
- Ready player me has collaborated with companies like Verizon, Tencent and more.
A Successful Fundraise For Ready Player Me
An Estonia-based metaverse avatar creating organization, Ready Player Me, has raised 556 Million USD during a Series B funding round led by a16z’s gaming and cryptocurrency fund. As per a press release, Justin Kan (co-founder of Twitch), David Baszucki (co-founder of Roblox), and Hartbeat Ventures by actor and comedian Kevin Hart joined the funding round.
The raised capital will be used for increasing the team members from 51 while creating developer tools to help the organization in avatar creation to be used in several digital worlds. The organization initially piled up $13 Million back in December 2021 and has since partnered in the organizations like Verizon, Wargaming, HTC, Huawei, and Tencent.
Blockchain gaming utility has escalated dramatically this year, with data provided from a data aggregator stating that gaming is accounting for 52% blockchain activity now. Investments have plunged along with this as per the data. It also said that a total of 2.5 Billion worth of funds were raised during the initial quarter of 2022, a 150% gain in a year.
A16z released its initial gaming fund during May with a 600 Million USD commitment. Just after the release, the organization launched its 4th cryptocurrency fund worth 4.5 Billion USD, doubling down on cryptosphere in spite of the bear control.
Andreessen Horowitz issued a blog post saying that interoperability is the core to the metaverse development. They think that the upcoming generation of digital worlds and games will be developed with interoperability as a prime tenet. Instead of keeping the users in a walled garden, digital realms which will comprise an open metaverse will allow them to own their identities and carry their virtual assets anywhere they go.
The blog post discussed this partnership, where they described Ready Player Me as a platform offering user friendly services to create 3-D avatars of the users. They can easily create an animated character by uploading a selfie on the platform, and use it on any of the company’s partnered platforms. Ready Player Me is developing an interoperable identity system for an open metaverse. It will allow the devs and players to take their avatars and assets in other 3D experiences.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
