3 Avatar creation Start-ups attract huge investment

As the popularity of metaverses rises, users are becoming increasingly conscious about their representation and image in the virtual world. The avatars in the virtual worlds are a significant part of users. Some startups have come around to help users build their avatars in the virtual world.
Genies is one of the most prominent companies which help users build avatars for their social media presence. These avatars can be used across different platforms. Recently, Genies received funding of 150 million at a valuation of over 1 billion dollars. An investment like this has solidified the impact and importance of avatars in the metaverse.
Thus, we have decided to look at three competitors of Genies that are helping users create cross-platform avatars.

Ready Player Me
Ready Player Me is a popular cross-application avatar platform that can already be used in over 2000 games and applications. Ready Player Me raised $ 13 million in a Series A funding round. Investors include Taavet+Sten – Co-Founders of Skype and Teleport, Tom Preston-Werner – Co-Founder of GitHub, and Samsung Next.

CryptoAvatars
CryptoAvatars’ users create, buy, and trade 3D avatars as NFTs. Artists who create these unique avatars can license each creation that can be used in multiple 3D worlds. The users’ design can be verified through blockchain technology. These avatars are downloaded in a VRM file once created. They can be used for video conferences and streaming as well. CryptoAvatars can be used in metaverse gateways like Somnium Space and VRChat. This avatar startup is still incubator-backed.

Tafi
Tafi has partnered with iconic brands like Warner Bros., Champion, Coca Cola, and Samsung on NFTs and other metaverse-related products. The company’s 3D Avatar Creator has gained popularity, with developers able to monetize their creations across various virtual and augmented reality platforms. Users can use Tafi’s avatar system to easily create their full-body avatar, which can be used to plug into different projects.
The world of cross-platform avatars is still new as startups explore ways to create their versions of tools that help users make their identity in the metaverse. Metaverse Gateways like Decentraland and The Sandbox allow users to develop in-game avatars. Similarly, traditional tech companies like Meta and Microsoft also allow their users to create avatars for their platforms. It will be interesting to see what startups like Genies and Ready Player Me can offer, which will make users want to use their platform to establish their virtual identity.
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