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Former Disney CEO Bob Iger invests in metaverse company Genies

genies bob iger

Yesterday it was announced that former Disney Chairman and CEO Bob Iger has invested in metaverse and non-fungible token (NFT) company Genies and joined its Board of Directors.

Launched in 2017, Genies creates virtual avatars, wearable fashion lines, and interactive experiences in the metaverse. More recently, it is enabling creators to design content as well. Users can apply to become sellers of custom-designed avatars and fashion pieces on Genies’ upcoming NFT marketplace, The Warehouse. 

The platform has partnered with Universal Music Group and Warner Music Group to launch avatars and wearable NFTs for their music artists. Last year Genies raised $65 million in funding with the participation of blockchain gaming company Dapper Labs.

“We believe that avatar ecosystems are going to be the mobile apps of web3. An ambitious vision calls for rare mindshare and I can’t think of a better creative and product thinker than Bob to collaborate with in bringing this all to reality,” said CEO of Genies, Akash Nigam.

Iger stepped down as Disney Chairman at the end of 2021 after having also served as CEO of the company from 2005 to 2020. In January this year he hinted that Disney could be planning its own metaverse. He also voiced his concerns over toxic behavior that could take place in the metaverse and expressed the need for tools to filter out bad actors. Iger sees particular potential in collectible NFTs, inspired by being a baseball card collector in his youth.

Meanwhile, Italian fashion brand Diesel is expanding its presence in the NFT sector through the launch of NFT platform D:VERSE. And sports and music NFT platform OneOf has launched the first NFTs to celebrate the Grammy Awards.

Image Copyright: Genies