Genies, a startup which aims to be the hub for digital identities in web3 via their avatar platform has launched “The Warehouse”, an NFT Store front that offers digital accessories for avatars created on their platform.
Most accessories will be sold for less than $20 and there will be no launch of a secondary market place at launch in an effort to prioritize users over dollars. Currently the platform is invite only but will be opened to the public in the upcoming months.
Genies which was recently valued at $65 million, has secured a series of impressive partnerships that includes Gucci, Universal Music Group, and musicians like Justin Bieber, J Balvin and Cardi B.
The company also features a rockstar list of investors that include Coinbase Ventures, Dapper Labs, NEA, Breyer Capital, Tull Investment Group, NetEase, and Mary Meekers firm Bond.
The project will launch on Flow blockchain platform which was used to launch NBA Top Shot. Dapper Labs CEO, Roham Gharegozlou said:
“The Genies Warehouse is the biggest release on Flow since NBA Top Shot and we’re looking forward to a similar success.”
Genies CEO Akash Nigam is prioritizing building out a network of avatars and compatible platforms using their developer SDK. He noted to Techcrunch “An avatar is a vehicle to be able to showcase more of your authentic self,” tells TechCrunch. “It’s not limited by real-world constraints, it’s an alter-ego personality.”