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Dapper Labs, Coinbase Ventures Join $65M Investment in Avatar Startup Genies

The funding will be used to expand Genies' NFT marketplace on Dapper Labs' Flow blockchain.

May 3, 2021 at 1:02 p.m. UTC
Updated Sep 14, 2021 at 12:49 p.m. UTC

A startup that brings flair to your online persona has raised $65 million – with notable participation from some of crypto’s rising stars.

The Series B for Genies was led by Mary Meeker’s Bond Capital with participation from Dapper Labs, Polychain, Coinbase Ventures, Hashkey and others.

The funding will be used to invest in the technology behind the Genies avatar system and to expand its digital goods and non-fungible token (NFT) marketplace on Dapper Labs’ Flow blockchain. 

Dapper Labs, which was responsible for the highflying digital collectibles platform NBA Top Shot, will launch a “secondary digital products market” with Genies later this year. 

The marketplace will allow customers to purchase, sell and exchange digital wearables.

“We're partnering with Dapper Labs to make sure that we are able to create a user experience with our NFTs that is the best we possibly can provide,” said Genies Chief Operating Officer and co-founder Jake Adams.

The Genies–Dapper Labs tie-up was first reported in November.

Adams said Genies' goal is to become the go-to “virtual identity” for people who want to express themselves in the digital world.  

“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,” Bond Capital’s Meeker said in a press release.

Celebs like Justin Bieber, Cardi B and Shawn Mendes are early Genies supporters. Twenty-year-old singer Camilla Cabello also participated in the Series B.

DISCLOSURE

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