JAKARTA - Former Disney chief, Robert "Bob" Iger, has started investing and has joined the board of metaverse start-up Genies. The statement came from the start-up on Monday, March 14. It is the former Disney executive's first move since leaving the entertainment giant in late 2021.
Genies, who are popular with celebrities like Rihanna, Lil Nas X, and Jennifer Lopez, say they have 99% of the celebrity avatar market share. These include their client Universal Music Group and Warner Music Group, which also make NFTs (non-fungible tokens).
Thrilled to be joining the @genies Board of Directors to help @akashrnigam and company empower humans to create the “mobile apps of web3”: avatar ecosystems.
— Robert Iger (@RobertIger) March 14, 2022
"I've always been interested in the intersection of 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, as quoted by Reuters.
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Iger was Disney's CEO from 2005 to 2020 and stepped down as head of the company last year.
Meanwhile, Genies has raised $100 million so far from venture capital firms including Bond and Brayer Capital.
Iger's entry into Genies is expected to bring new ideas that will lead the startup to become a bigger business entity in the future.
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