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.

AccessTimeIconMay 3, 2021 at 1:02 p.m. UTC
Updated May 9, 2023 at 3:18 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.