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Dapper Labs-backed NFT avatar platform raises $65M in funding

May 4, 2021. Summarized by summa-bot.

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Dapper Labs has participated in the $65 million Series B funding round for an NFT-powered digital avatar marketplace that will soon launch on Flow.

Digital avatar developer, Genies, has raised $65 million to build an NFT marketplace for digital avatars on the Flow blockchain led by several heavyweight investors, including Flow’s developers, Dapper Labs.

The $65 million is slated to fund the development of Genies’ NFT Marketplace, which will allow users to create and trade tokenized avatars, in addition NFT clothing worn by the avatars.

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

On April 29, Genies announced it would be teaming up with Dapper Labs to launch a Genies marketplace on the Flow blockchain.

In an interview with VentureBeat’s gaming division, Genies’ CEO, Akash Nigam, noted the firm is transitioning to target a broader audience after initially planning to offer celebrities customized avatars to use in the context of digital events and launches.

by summa-bot

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