Since leaving Disney, Robert Iger has joined the board of directors of Genies—a startup focussing on 3D metaverse avatars.
The longtime Disney CEO and chairman invested an undisclosed amount in the Los Angeles-based startup where celebrities and others can create their avatars in the metaverse and clothe them in NFT clothing and accessories.
Iger told the Wall Street Journal that Genies appealed to him for its ability to use existing intellectual property in new ways.
“Imagine, you know, letting someone buy a Mickey Mouse avatar and customizing it in a way that not only would we never allow it before, but it was kind of hard to do in the physical world,” he told the WSJ.
“I’ve always been drawn to the intersection between technology and art,” Iger, 71, said in a statement announcing his role at Genies.
Genies has raised $100 million in funding and gained popularity among celebrities, including Rihanna, Shawn Mendes, Jennifer Lopez, Justin Bieber, and Lil Nas X through deals with Warner Music Group and Universal Music Group.
The startup stated it has 99% of the celebrity avatar market share and clothes them in NFT clothing and accessories.