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A digital marketplace

Above: Shawn Mendes sold this virtual guitar as a unique NFT collectible.

Nigam said that the business is based on celebrities driving the digital likeness marketplace and selling items to their fans, who in turn can express themselves with their own Genie avatars.

“When you put all that flywheel together, that’s like the new identity layer for the internet,” Nigam said. “We’re just stockpiling all of our talent and all their Genies, and their digital goods are wearable, so that when our marketplace with Dapper Labs goes live this summer, we’re going to be able to release everybody in volume in our own marketplace.”

Later in 2021, Genies will launch a secondary digital goods market, allowing consumers to buy, sell, and trade digital wearables via a partnership with Dapper Labs’ Flow — the blockchain for open worlds.

Rather, people can take their avatars and move from place to place in a distributed metaverse. He said the partnership with Giphy will help folks us Genies as cultural accessories for their digital selves and use them in digital communities where they already belong.

Bond’s Mary Meeker

Above: Genies creates digital avatars for celebrities, influencers, and athletes.

Bond was formed a few years ago by Meeker and other former leaders at Silicon Valley venture capital firm Kleiner Perkins. Meeker will now join the Genies board of directors. “Mary Meeker is joining the board, which we’re very excited about,” Nigam said.
“What closed the deal was Mary Meeker joining the board.”

This is another metaverse play by a big investor.

“The investment is based on what business really is right now and the potential for metaverse,” Nigam said.

Genies expects to launch its market in beta during the third quarter of this year.

In a tweet revealing the funding, Genies stated it hopes to become the single “virtual portable identity across the digital world,” offer users a ways to limited themselves inside the virtual metaverse.

Genies launched in 2022, initially targeting for its avatars to be used on centralized social media and messaging platforms. On April 29, Genies appear it would exist teaming upwardly with Dapper Labs to launch a Genies marketplace on the Flow blockchain.

Move over NBA Top Shot @dapperlabs has a new pet projection.

Genie avatar system and to continue to build out the digital goods marketplace on Dapper Lab’s Flow platform. This will make it compatible with nonfungible tokens, or NFTs, which permit users to create uniquely identifiable digital items with the help of blockchain, the secure and transparent digital ledger behind cryptocurrencies such as Bitcoin.


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“We’re going to offer tools so that a 6- to 16-year-old teen in high school can create their own digital wearable and goods collection and then release it in the marketplace and sell to the masses as well,” said Genies CEO Akash Nigam in an interview with GamesBeat.

Nigam sees the Genies avatar as a virtual portable identity that people can use wherever they travel across the internet. Examples of digital goods include a pair of shoes, a jacket, a fashion-inspired hot polka dot collection, a spirit animal creature head collection, a Bitcoin-inspired spacesuit, and a fantastical warrior outfit for Pride month. Most items are created without the limitations of the physical world and are meant to be fantastical to represent different personalities.

Other new and existing investors in this round include Camilla Cabello, Polychain, Amplo, Foundation Capital, Redsea Ventures, Hashkey, Shrug, A Capital, Tamarack Ventures, and Gaingels.
Nigam started the company in 2017 and it has 60 employees.

All creations are minted on Dapper Labs’ blockchain network, Flow.

Egon Durban, Co-CEO of the lead investor Silver Lake, said:

“Genies has established its leadership in Web3 with remarkable speed and focus, fueled by a long term vision and clarity of purpose that we have been watching closely and greatly admire. We’re excited to partner with and support Akash, his co-founder Evan, and the entire Genies team as 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.”

“It takes a very special team to operate and build at the intersection of culture, digital assets, and identity,” said Jamie Lee and John McCormick, Tamarack Global.

GIFs that make it easier simply to drop them into text chat conversations. By integrating it with Genies, it’s possible to throw your avatar into a chat or into an Instagram post.

“Today’s ecosystem of Genies is step one in our long-term vision of aligning physical personalities with digital personas,” said Nigam.

Later this year Genies has plans to open its new marketplace to hundreds of partners through its avatar and NFT software development kit so developers can embed the technology in whatever apps they wish. This will greatly expand the reach of Genies audience creating a portable identity that users can carry wheresoever they go.

“Genies has opened the door to a new type of virtual self-expression that is changing the way we interact with one another online – starting with celebrities and moving to all of us,” said Mary Meeker, general partner at Bond.

With apps available for smartphones running on Android and iOS, users could express themselves by forming a virtual identity and dress it up with costumes and clothing from their favorite brands, band T-shirts or other items featuring whatever they desire.

“The internet was initially created as a safe place to be your fully authentic self. Lately, we’ve gotten away from that,” said Akash Nigam, chief executive of Genies. “We believe that avatars are able to help swing the pendulum back to the internet’s founding philosophy and enable humans to harness and express emotions in unique, authentic, and therapeutic ways.”

Genies is already rolling out its new marketplace and platform to beta users who can test using Giphy’s distribution network via a custom integration.

“We’re going to offer tools so that a six- to 16-year-old teen in high school can create their own digital wearable and goods collection and then release it in the marketplace and sell to the masses as well,” states the CEO of Genius, Akash Nigam.

Their partnership with Gify, for example, allows users to design their own gifs, using Genies, and sell them as NFTs on a digital marketplace as limited-edition goods. Meanwhile, the company’s partnership with Gucci means that some well-funded avatars will be adorned in only the finest digital Italian fashion.

A fantastical representation of one’s personality

“It’s like we’ve been talking about the philosophies and concepts of NFTs for years, but we’ve been talking about it as a comparison to digital goods, on skins that you see in video games. And we’ve talked about unlimited capacity, exclusive capacity, and so forth.

The Avatar Genies team said they intend to start an NFT exchange on the Flow decentralized platform. To that end, besides the support of Dapper Labs, they have raised more than $65M in the last funding round.

In addition to Dapper Labs, Coinbase Ventures, Breyer Capital, Bond, as well as Tull Investment Group invested in the company. The developers intend to invest the resulting amount in the creation of Genies NFT a trading platform that allows everyone to create a tokenized virtual avatar and then if desired, sells it.
Avatar Genies intend to launch the beta as early as Q3 2021.

The developers see the main task of the project as creating a resource where users can represent themselves in the digital world. Previously, the creators intended to connect their “avatars” to centralized social networks so that their members could use them in communication.

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