NFT avatar startup Genies valued at $1B following Series C funding round By Cointelegraph


NFT avatar startup Genies valued at $1B following Series C funding round

Nonfungible token (NFT) startup Genies has secured $150 million in Series C funding at a valuation of $1 billion, making it the latest crypto-focused platform to attain “unicorn” status.

The funding round was led by California-based private equity firm Silver Lake, which manages $88 billion in assets as of 2021, with additional participation from existing investors Tamarack Global, BOND and NEA. Genies said the funding will go towards increasing internal capacity in its engineering department as well as investing in new technologies.

Since peaking in September 2021, monthly NFT sales have moderated significantly. Source: NonFungible