Ready Player Me is betting on a system where users can use their NFTs in multiple games and metaverses instead of only one. In a Series, B Funding round led by Andreessen Horowitz, Ready Player Me raised a whopping $56M funding from a16z Games Fund One.
GAMES FUND ONE is a16z’s inaugural fund dedicated to promoting and building future blockchain games. According to a16z, games will play a vital role in perceiving the everyday world and socializing.
Apart from Andreessen Horowitz, Plural, Twitch co-founder Justin Kan, Heartbeat Ventures (by Kevin Hart), Punk6529, and Roblox co-founder David Basxucki were also present at the funding and contributed to the funding.
The game is using these funds to work on a technology that lets you use your NFT avatars across 3,000 different video games. Ready Player Me was founded in May 2022; Since then, the game has created more than 5 million avatars and collaborated with famous brands such as Adidas, Dior, VRChat, RTFKT, and many more.
“People spend more and more time in virtual worlds every year. 12-15-year-olds hang out with their friends in games today, and this trend will continue. Games are the new social platforms… In 5-10 years, Ready Player Me will be the avatar interoperability layer for the metaverse. We help people create awesome avatars and travel with them across the metaverse.”
Ready Player Me co-founder Timmu Tõke.
According to a16z GP Jonathan Lai, the next generation of games and metaverses will be built on “interoperability as a core tenet.”
“Long-term, RPM is building the interoperable identity protocol for the open Metaverse – enabling players and developers alike to take their identity and assets with them to any 3D experience,” he added.
Apart from working on interoperability, the project will look to expand its 51-person team and build new tools for avatar creations. They are also looking forward to improving the avatars’ graphics.
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