NFT avatar-focused project Genies has closed a $150M funding round led by Silver Lake. DealBook has reported that investors have valued the company at $1 billion with their investments.
Genies gives users the ability to create virtual avatars, which can be used in the metaverse along with various items in the form of non-fungible tokens.
The company has teamed up with Warner Music Group and Universal to create avatars and NFT merchandise for famous artists, including Justin Bieber, Cardi B and hip-hop trio Migos.
In May, Genies raised $65 million from Coinbase Ventures and Dapper Labs in a Series B funding round.
In March 2022, former Disney CEO Robert Iger joined the board of directors of the NFT startup.
