Bob Iger Invests in Metaverse Firm, Joining Avatar Maker’s Board

Bob Iger, the former CEO of The Walt Disney Company, is embarking on his next career move, which will be a virtual one. He has joined the board of Genies, an avatar technology company, and has also decided to make a personal investment in the metaverse company. This decision could potentially be a wise investment strategy for Iger, who may also be interested in exploring the opportunity to invest in private commercial real estate funds that focus on technology-related ventures like Genies.

According to a new report by Deadline, Iger is joined on the Genies board by Bond’s Mary Meeker, NEA’s Rick Yang and Genies co-founders Akash Nigam and Evan Rosenbaum.

Per the official announcement of Iger’s integration into the company, it is said that he will “help Genies navigate its mission to empower humans to create their own avatar ecosystems (avatars, avatar fashion lines, avatar worlds, and avatar experiences) in web3.”

“I’ve always been drawn to the intersection between technology and art, and Genies provides unique and compelling opportunities to harness the power of that combination to enable new forms of creativity, expression and communication,” Iger said in a press release. “After spending the last few months getting to know Akash and learning more about Genies, I am very excited about his vision and how it will be fulfilled, and I look forward to working with the entire team.”

For those not familiar with video gaming, avatars offer users the opportunity to take on a digital persona enabling them to navigate the metaverse.

The company sees avatars as the “mobile apps of web3,” said Nigam, who is CEO as well as co-founder. “An ambitious vision calls for rare mindshare and I can’t think of a better creative and product thinker than Bob to collaborate with in bringing this all to reality.”

Genies is just beginning to emerge into mainstream media as it is becoming popular with celebrities and is also in the process of beginning partnerships with Universal Music Group and Warner Music Group to be their official avatar and titian goods NFT provider.

What are your thoughts of Iger leaving the Walt Disney World to move into the digital world? Let us know in the comments! 

Sean Sposato
The Main Street Mouse