Avatar developer Genies is releasing NFT clothing for its avatars. Known for its partnerships with celebrities like Justin Bieber, Rihanna and Cardi B, it is launching an NFT fashion marketplace called ‘The Warehouse’. Only creators approved by Genies will be able to release NFT clothing on The Warehouse, but the platform ultimately aims to allow all users to do so.
Creators own the original intellectual property of their NFTs and receive a cut of revenue every time a piece is resold, with Genies taking 5% off each transaction, according to Techcrunch. Users who buy a digital fashion item can edit it to their liking using platform tools.
Notably, Genies did not start as a Web3 company but initially developed avatars for messaging platforms, aiming to dethrone Bitmoji. It has since moved towards developing virtual celebrity personas through partnerships with leagues like the NFL and MLB. The company also signed deals with Universal and Warner Music to create avatars for the labels’ artists.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
