Robert Iger to invest in metaverse startup Genies
By MYBRANDBOOK
Former Walt Disney Chairman and CEO Bob Iger is backing metaverse startup Genies in his first move since leaving the global media giant last year.
Robert is now an investor and will join the board as one of five directors of the company, whose avatars are popular among celebrities like Rihanna and Jennifer Lopez.
Genies claims to own 99% of the celebrity avatar market share and makes NFTs for Warner Music Group and Universal Music Group. It offers virtual clothing and tools for customizing virtual characters. It also operates its own NFT marketplace.
Iger said, “I was particularly interested in companies that were using technology for disruptive purposes and, where possible, the intersection between technology and creativity.” He added that Genies appealed to him because it can change the entertainment industry, as it allows the use of existing intellectual property in different manners.
Bob Iger was the CEO of Disney from 2005 till 2020. His tenure saw some high-stake acquisitions including buying 21st Century Fox, Pixar, Marvel and Lucas Films. Disney’s net income increased to a whopping 404% under Iger’s leadership and its stocks too rose exponentially.
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