Ready Player Me, a cross-game avatar platform that permits customers to discover the metaverse, has closed a $56 million Series B spherical led by Andreessen Horowitz (a16z).

Different well-known traders that took half within the spherical, included Kevin Hart’s Hartbeat Ventures, the D’Amelio household, Punk6529, Snowfro, Sebastian Knutsson & Riccardo Zacconi, amongst others.

As per the release, groups can think about constructing worlds and experiences as a result of Ready Player Me offers builders an avatar system. The platform additionally affords distribution by way of its community and creates new income streams by way of the sale of interoperable avatar belongings and a cross-game economic system.

Timmu Tõke, co-founder and CEO of the platform believes that with the extra funding, Ready Player Me will be capable to scale the avatar system to present builders extra flexibility, develop new instruments to help builders in getting cash from avatar belongings, and develop instruments for particular person creators to take part within the cross-game avatar market.

The co-founder additionally added, “What will unlock the true metaverse experience is interoperability between games, worlds, and applications and a consistent identity for users across all experiences,”

Meanwhile, Jonathan Lai, normal associate at Andreessen Horowitz famous, “Ready Player Me is loved by both developers and players as the largest platform for avatar-systems-as-a-service and is well on their way to building the interoperable identity protocol for the open Metaverse,”

Acceleration within the world metaverse market

Ready Player Me’s funding additionally comes quickly after Meta’s Horizon Worlds metaverse sport got here underneath fireplace for its rudimentary visuals after the debut. And with rising competitors within the area, the US Patent and Trademark Workplace has additionally registered Miley Cyrus’ name to enable her to make use of her trademark in blockchain and metaverse-related initiatives.

This week, Invesco, a world funding administration firm, additionally launched its Metaverse Fund to foray into the sector.

In accordance with a current study, using metaverse within the gaming trade has elevated particularly after the coronavirus outbreak. The Grand View Analysis, Inc. report initiatives that by 2030, the worldwide metaverse market can have reached a price of $678.8 billion. That stated, the market is anticipated to develop at a CAGR of 39.4% over the course of the forecast interval.

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