Bob Iger is Stepping into the Metaverse

After leaving Disney last year, Bob Iger, Former Walt Disney Chairman, and CEO, is stepping into the world of Metaverse. He is backing metaverse startup- Genies. According to a Wall Street Journal report, Bob Iger is now an investor in Genies and will join the board as one of five directors of the company. The company’s avatars are popular among celebrities like Rihanna and Jennifer Lopez. Bob Iger in an interview said: "I was particularly interested in companies that were using technology for disruptive purposes and, where possible, the intersection between technology and creativity." He thinks that Genies has the potential to change the entertainment industry. Currently, the Genies claims that it owns 99% of the celebrity avatar market share and makes NFTs for Warner Music Group and Universal Music Group. Genies was founded by Akash Nigam in the year 2017 and it has raised $100 million in funding so far. On the other hand, Disney also aims to get into Metaverse. Its CEO Bob Chapek said: "Our efforts to date are merely a prologue to a time when we'll be able to connect the physical and digital worlds even more closely, allowing for storytelling without boundaries in our own Disney metaverse."