Genies Unveils Social Network of Crowdsourced Mini-Games with Celebrity Co-Creation Opportunities
Genies, the metaverse avatar tech company that reached a $1 billion valuation in April 2022, has announced its plans for the future. The startup is launching The Workshop, a platform that provides 3D design tools and creative prompts for digital artists to create Genies-compatible digital clothing and objects. The platform will also include a curated library of fashion items to simplify the creation process. Additionally, Genies has partnered with celebrities such as Khalid, Banks, and Amber Park to participate in the program and offer co-creation opportunities. The Workshop will also host a variety of fashion prompts for user-generated content. In the coming months, Genies will release a network of mini-games created with its developer kit, showcasing the interoperability of its assets and games.
Monetizing Creations and Incentivizing New Behaviors
Genies plans to allow creatives to monetize their work through in-game purchases, with revenue splits between artists and developers. However, the focus for now is on rewarding creators through the Fashion Engagement Fund based on traction generated by their work. Genies CEO Akash Nigam emphasized the importance of not monetizing too early to avoid inhibiting users. The fund will later shift towards incentivizing new behaviors, such as the use of augmented reality (AR) capabilities. Nigam also clarified that Genies has always been an avatar company since 2015, despite being associated with NFTs. Over the next six months, Genies will release the first batch of mini-games and demonstrate the full effect of interoperability.
Hot Take: Genies Expands its Metaverse Presence with Crowdsourced Mini-Games
Genies, the metaverse avatar technology firm, is making significant strides in its expansion plans. With the introduction of The Workshop, a platform for digital artists to create Genies-compatible assets, and the involvement of celebrities in co-creation opportunities, Genies is building a social network of crowdsourced mini-games. The company aims to reward creators through its Fashion Engagement Fund and enable monetization through in-game purchases. By emphasizing interoperability and the use of AI technology, Genies plans to create a seamless experience for users across different games. As Genies continues to release new games and features, it solidifies its position as a leading player in the metaverse landscape, offering unique opportunities for artists, brands, and game companies.
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