Former CEO at Walt Disney supports a metaverse startup

The former CEO of Walt Disney, Bob Iger, has announced plans to join the board of Genies, a digital platform focusing on avatars for the virtual world. Genies is developed on the Flow blockchain, which is associated with Dapper Labs, one of the largest platforms for NFTs.

Iger was the CEO of Walt Disney company for more than a decade between 2005 and 2020. As a member of the Board of Directors at Genies, Iger will be taking an advisory position.

Bob Iger joins Genies Board of Directors

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Iger confirmed this appointment in a tweet saying, “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.”

Genies was launched in December 2016. In 2021, the firm received $65 million in a funding round. So far, it has raised $100 million in funding. The firm has also partnered with some of the largest players in the entertainment sector, including Universal Music Group and Warner Music Group. Genies is the official creator of avatars and NFTs for these platforms.

Gain an understanding of avatars

Avatars have become quite popular in the metaverse. The CEO and co-founder of Genies, Akash Nigam, has noted that he proposed to Iger to join the company after a meeting with the media mogul. He noted that the proposal included Iger gaining an understanding of the technology provided by Genies.

In his announcement, Iger showed an image of a new digital avatar that he had purchased. “I’m learning a ton and looking forward to helping [Genies] fulfil their vision,” he added.

Nigam also stated that he was inspired to create avatars after encountering them online. He noted that through an avatar, one can gain a clear understanding of a person’s feelings, emotions, and thoughts.

Besides, avatars can boost online communication in a way that those using the internet can understand. According to Nigam, avatars can be the “next form of communication”, and Genies was dedicated to making them available to the people.