metaverse

metaverse

Gaming startup Infinite Canvas is banking big on the rise of the metaverse and the value of user-created content in video games as it launches its business with $2.8 million in pre-seed funding.

The metaverse is basically a more interactive version of the internet driven by user-generated content. It could become the main way we communicate and live online -- Facebook chief Mark Zuckerberg recently told The Verge he wants Facebook to become a metaverse-focused company. Xbox boss Phil Spencer also said Microsoft is taking cues from social media like TikTok to determine what user-generated content to target in games.

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Genies, a startup that makes virtual avatars out of musicians, celebrities and, very soon, everyone else, is moving from Venice to a 20,000-square-foot converted warehouse in Marina Del Rey.

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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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