NFT Digital Avatars Startup raises Incredible $ 117 Million in Funding

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How about your own picture on the blockchain? This is exactly what the start-up Geniuses offers and receives a million syringe for it. As the online magazine Mixed reports, investors should already pump funds into the blockchain company in a second round. Since its foundation, a total of 117 million US dollars have been invested in the Tech Group.

Cooperation with Warner Music Group

Geniuses offers users the opportunity to create a digital identity. Various tools and modes are provided for this purpose. Investors ‘interest is also likely to be due to the founders’ latest decision to participate in the NFT market. Here, users should be given the opportunity to trade their own avatars and clothes.

The online company has been around since 2017 and has since been able to develop over a million ways to create digital faces and lines, according to its own data. Genius CEO Akash Nigam recognizes a”new layer of identity for the Internet.” Genies announced the first prank only a few days ago. In cooperation with the Warner Music Group, artists are to release their own avatars and fashion pieces.

Target group: 6-16 years

So fans could get NFT products from their favorite artists and equip their own avatars with them. The latest round of financing, which raised $ 65 million from various venture capitalists, was intended to lay the groundwork for building a marketplace of its own. Here, according to Genies, mainly solvent young customers are to be considered. The target group should be the six to 16-year-olds.

For venture capitalists, this is likely to be a very risky investment. Ordinary investors fare better with well-known tech stocks. This also provides an opportunity to invest in start-ups.