Genies creates an investment arm for companies using its digital avatars

Genies has built technology for creating expressive digital avatars for everyone from rockstars who want to give online concerts to influencers who can’t go to in-person meet-and-greets anymore. Now the company is launching Humans, an investment arm that will back projects using the company’s avatars.

Genies will target companies that benefit directly from its avatars — animated characters whose actions mirror those of a human — to foster connections even when physical interaction is limited. Genie’s cartoon-style technology comes from the avatars you see in games, but they’re being used for mostly non-game applications.

This kind of tech could also prove helpful in the eventual creation of the Metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One. And it’s part of the trend toward virtual beings, or digital versions of real people. (FYI, I’m going to speak at the next Virtual Beings Summit on July 15).

Humans has already invested in multiple companies, including Zebra IQ and Leaftail Labs.

Genies announced separately that Pokimane, a popular influencer whose real name is Imane Anys, has invested in the company. Other investors include Thomas Tull, Jim Breyer, NBA star Victor Oladipo, musician Yoshiki, investment firm L Catterton, CAA, and New Enterprise Associates. Genies has raised $40 million to date.

Digital twins for celebrities

Above: Celebrities can make guest appearances or promo commercials with their avatars.

Image Credit: Genies

The pandemic has created more demand for Genies avatars because celebrities can’t go to physical events, which are often high-paying gigs to promote brands or products. With Genies, the celebrity can make a guest appearance in a fun way, in contrast to a typical Zoom presentation from home.

About 100 of Genies’ celebrities recently banded together to support the CDC Foundation and create awareness of its relief fund efforts. The campaign reached nearly a billion views. Genies’ celebrities also launched educational videos on behalf of the World Health Organization. And musicians Offset and Billy Ray Cyrus have used their Genies to promote wearing masks during the pandemic.

Genies is preparing to release its 3D avatars that build on top of the 2D, cartoon-style avatars it already has in the market. The company will release a software development kit (SDK) so developers and businesses can create avatars themselves and implement tools to monetize the avatars. It is also going to release its own avatar social network, where people can talk to each other through the avatars, sort of like what you see with avatars in Animal Crossing: New Horizons, Genies cofounder and CEO Akash Nigam said in an interview with…