genies

Once the home of Frank Sinatra's vinyl recordings, Warner Music Group has ventured into the virtual entertainment world. The company announced it will partner with a virtual concert provider and invest in a tech company that plans to develop avatars and create NFTs for the label's artists.

Monday's announcement that Warner will enter into a content and investment partnership with Los Angeles-based Wave followed a similar announcement Friday that the venerable music label will partner with Genies, a tech company that will help develop a virtual presence for Warner artists and NFTs for their artwork and music.

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L.A.-based digital avatar company Genies has a plan to monetize the metaverse.

The startup announced Monday it has closed a $65 million Series B fundraise. Genies, which got its start building cartoon-like online avatars for celebrities, recently opened its platform up to anyone who wants to create their own digital "fantasy version" of themselves.

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Matt Skiba helped to build Snap Inc.'s executive team in 2018 and 2019, a period that proved to be the beginning of the Santa Monica-based company's remarkable ascendancy in the public markets. He is now charged with a similar task at L.A.-based digital avatar platform Genies.

The company began primarily as a designer and manager of digital avatars for celebrities like Jennifer Lopez, Rihanna and Shawn Mendes to use across social media, but lately is expanding into the consumer market.

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