Genies NFT Project Raises $150M at $1B Valuation

NFT avatar-focused project Genies closed a $150M funding round led by Silver Lake. Investors valued the company at $1 billion, according to DealBook.

Genies provide users with the ability to create virtual avatars. The latter can be used in the metaverses along with various items in the form of non-fungible tokens.

The company has partnered with Warner Music Group and Universal to create avatars and NFT merchandise for top artists, including Justin Bieber, Cardi B, and hip-hop trio Migos.

In May 2021, Genies raised $ 65M 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.


Previously, Warner Music Group entered into a partnership with NFT game developer Splinterlands.

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