Genies Raised $150m Fund By Silver lake for Web3

Silver lake for Web3

Genies, a non-fungible token (NFT) platform, raised $150 million in its recent funding round led by private equity firm Silver Lake to further its Web 3 ambitions. The New York Times DealBook first reported the news.

The U.S.-based company’s latest funding round values it at $1 billion, the company said 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 DealBook.

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, enabling Universal’s musicians to create digital versions of themselves.

Genies and Silver Lake were not immediately available for comment when contacted by CoinDesk.

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