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Silver Lake Leads $150M Round in NFT Platform Genies: Report

Camomile Shumba - CoinDesk
2022-04-12 13:11
Genies, a non-fungible token (NFT) platform, raised $150 million in its recent funding round led by private equity company Silver Lake to further its Web 3 ambitions, according to a report by DealBrook.
  • The U.S.-based company's latest funding round values it at $1 billion, according to the report published on Tuesday. This investment will help support it as it provides tools to create and sell characters online.
  • "Sometimes it’s a small company like this, and other times it’s huge, large companies that need to be transformed,” Egon Durban, the co-chief executive of Silver Lake told DealBrook.
  • In May last year, Genies raised a $65 million round led by Mary Meeker’s Bond Capital with participation from Dapper Labs, Polychain, Coinbase Ventures, Hashkey and others.
  • In December, the company partnered with the Universal Music Group which meant its musicians could create digital versions of themselves.
  • Genies and Silver Lake were not immediately available for comment when contacted by CoinDesk.
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