2 years ago
The AI-generated avatar instauration cross-platform for the metaverse, Ready Player Me, has raised $56 cardinal successful a Series B backing circular led by Andreessen Horowitz (a16z). The startup’s co-founder and CEO Timmu Tõke says the backing volition beryllium utilized to standard the cross-platform metaverse avatar system.
Investors Inject Ready Player Me With Fresh Capital, CEO Says ‘Interoperability’ Is the Key to Unlocking the Metaverse
On Tuesday, Ready Player Me (RPM), a startup that issues 3D avatars to beryllium leveraged successful the metaverse, announced that the steadfast has raised $56 cardinal successful a Series B backing round. The latest financing follows the company’s Series A announced successful December 2021, erstwhile the squad raised $13 cardinal successful a backing circular led by Taavet+Sten.
The Series B financing for $56 cardinal was led by a16z, and different participants see Roblox co-founder David Baszucki, King Games co-founders Sebastian Knutsson and Riccardo Zacconi, Hartbeat Ventures, Punk6529, D’Amelio family, Snowfro, Collab Currency, Plural, and Konvoy Ventures. Twitch co-founder Justin Kan besides participated successful the RPM Series B. RPM CEO Timmu Tõke believes that cross-platform connectivity volition beryllium the cardinal to unlocking the metaverse.
“What volition unlock the existent metaverse acquisition is interoperability betwixt games, worlds, and applications and a accordant individuality for users crossed each experiences,” Tõke said connected Tuesday. “We deliberation it’s indispensable for virtual worlds users to make an avatar they emotion and bargain avatar skins and accessories that enactment crossed the metaverse and are not stuck successful 1 game. The RPM enforcement added:
This infusion of funds volition let Ready Player Me to proceed scaling the avatar strategy to marque it much flexible for developers, make caller tools to assistance developers monetize with avatar assets, and physique tools for idiosyncratic creators to instrumentality portion of the cross-game avatar marketplace.
Ready Player Me Inks Deals With Prominent Players, While Popular Brands and Corporate Giants Seek to Capitalize connected the Metaverse Concept
RPM has already formed partnerships with good known companies which see firms similar Adidas, Warner Brothers, Pull&Bear, and Dior. The startup is besides moving with Hiber, Mzaalo, the Nemesis platform, 8th Wall, and Pixelynx. RPM has besides completed customized avatar infrastructure for firm giants specified arsenic HTC, Verizon, Tencent, and Wargaming. Jonathan Lai, a wide spouse astatine a16z, said the concern institution was “impressed by the team” and noted that a16z looks guardant to moving with RPM.
“Ready Player Me is loved by some developers and players arsenic the largest level for avatar-systems-as-a-service and is good connected their mode to gathering the interoperable individuality protocol for the unfastened Metaverse,” Lai explained during the announcement connected Tuesday.
RPM’s financing follows a important influx of fashionable brands and companies seeking to capitalize connected the metaverse concept. This week the money manager with $1.4 cardinal successful assets nether absorption (AUM), Invesco, launched a metaverse fund. Hong Kong University of Science and Technology is building a metaverse campus, and the University of Tokyo is offering engineering courses dedicated to metaverse technology.
During the 2nd week of August, reports had shown Samsung signed a memorandum of knowing (MOU) with a fig of metaverse startups. However, the metaverse has been criticized a large woody arsenic well, arsenic the conception has received flak from luminaries similar the billionaire capitalist Mark Cuban and Ethereum’s co-founder Vitalik Buterin.
What bash you deliberation astir Ready Player Me raising $56 cardinal from a16z and different strategical investors? Let america cognize what you deliberation astir this taxable successful the comments conception below.
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