Ready Player Me Secures $13 Million Backing From Leading Crypto Investors

Metaverse platform ready Player Me announced on Tuesday a $13 million capital raise led by Taavet+Sten, a firm led by Taavet Hinrikus, the co-founder of fintech giant Wise and Sten Tamkivi, Teleport co-founder.
Image Source: Ready Player Me

Quick Take:

  • Wolf3D on Tuesday announced it secured $13 million funding for its metaverse avatar platform, Ready Player Me.
  • The metaverse platform allows users to explore virtual worlds with one specific identity.
  • The funding round was backed by Taavet+Sten, among others.

Metaverse platform Ready Player Me said on Tuesday it secured a $13 million backing, led by Taavet+Sten, a firm led by Taavet Hinrikus, the co-founder of fintech giant Wise and Sten Tamkivi, Teleport co-founder. Other participants in the funding round include Konvoy Ventures, NordicNinja, and Tom Preston-Werner, co-founder of Github.

The Ready Player Me is a metaverse protocol that gives users the ability to use one avatar across several virtual worlds, thereby retaining a single identity across all metaverse projects. The platform is a product of Wolf3D, a virtual 3D avatar design and creation platform for gamers.

Ready Player Me wants to facilitate the expansion of the metaverse, allowing it to reach its full potential. The funding will be directed towards global growth making ready Player Me the preferred system for avatar creation in the metaverse.

The platform plans to support more than 900 virtual worlds within the next few months. It is also building monetization tools, enabling project developers to make money from in-game supported NFTs and in-game avatar customization assets, a reliable monetization model in the gaming industry.

Ready Player’s Me’s avatar creation system is currently used by 900 companies, including VRChat, Somnium Space, Verizon, and Hiberworld. 

It has recently extended its list of partnerships with the addition of Deadmau5, Pixelynx, and artist Smearballs, bringing the Head5 NFT collection to the platform. Previous partnerships include multinational brands such as the Warner Brothers, Dior, and New Balance.

Highlights ready Player Me’s rapid growth in 2021, which saw it increase its list of adopters from 25 to 900, Ready Player Me, CEO Timmu Tõke said, “by giving people avatars that travel across virtual worlds, we can make the metaverse more connected. The metaverse is not one place or platform, it’s a network of thousands of experiences.”

Ready Player Me’s unique interworld capabilities could be crucial for fashion companies as it allows users to use NFT wearables across multiple projects in the metaverse. As a result, NFT creators and fashion companies will have an opportunity to optimise their returns, thereby opening doors for many.

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