Ready Player Me, an Estonian AI-generated avatar creator for the metaverse, has raised $56 million in a Series B funding round led by Andreessen Horowitz’s crypto and gaming fund.
In an announcement on Tuesday, RPM detailed the participation of other investors such as Twitch co-founder Justin Kan, Roblox co-founder David Baszucki, and Kevin Hart’s Hartbeat Ventures.
The fresh capital injection will be used to scale up the current team while further developing tools that will enable companies to create avatars that are supported in multiple metaverses, the company said.
According to RPM CEO Timmu Tõke cross-platform connectivity will be the key to further growing the metaverse. He said:
“What will unlock the true metaverse experience is interoperability between games, worlds, and applications and a consistent identity for users across all experiences. We think it’s essential for virtual worlds users to create an avatar they love and buy avatar skins and accessories that work across the metaverse and are not stuck in one game.”
The RPM head added:
“This infusion of funds will allow Ready Player Me to continue scaling the avatar system to make it more flexible for developers, create new tools to help developers monetize with avatar assets, and build tools for individual creators to take part of the cross-game avatar marketplace.”
Since raising an initial $13 million in December 2021, RPM has been collaborating with a variety of tech giants including Tencent, Huawei and HTC.
Having launched its first $600 million metaverse fund in May, unfazed by the crypto market’s stagnation, Andreessen Horowitz quickly followed and announced a new $4.5 billion crypto fund.
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Source: Igaming
