Business

Bob Iger, Former Head of Disney, Enters the Metaverse By Investing In Startup Genies


Former Disney chief Bob Iger entered the metaverse through an investment in Genies

Former Disney chairman Bob Iger is investing and joining the board of metaverse Genies startup, the company said Monday, in the executive’s first move since leaving the entertainment giant in late 2021.

Genies, which is popular among celebrities like Rihanna, Lil Nas X and Jennifer Lopez, said it owns 99% of the celebrity avatar market share and includes Universal Music Group and Warner Music Group as customers, for which it also makes NFTs or tokens not fungi. .

“I’ve always been drawn to the intersection between technology and art, and Genies provides a unique and exciting opportunity to harness the power of that combination to enable new forms of creativity, expression and communication,” said Iger, who has spent more than a decade at Disney.

Iger was Disney’s CEO from 2005 to 2020 and resigned as chairman last year.

Genies has raised $ 100 million so far from venture capital investor firms Mary Meeker, Bond and Brayer Capital, among others.

(This story has not been edited by NDTV staff and is automatically generated from a syndicated feed.)

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