Ex-Disney CEO Robert Iger Joins Metaverse Firm Genesis Headed by Indian-Origin Akash Nigam

Iger believes that the entertainment industry needs inroads into the metaverse world to create and sell digital items.

By Radhika Parashar | Updated: 15 March 2022 16:51 IST

Ex-Disney CEO Robert Iger Joins Metaverse Firm Genesis Headed by Indian-Origin Akash Nigam

Photo Credit: Twitter/ @akashrnigam

Launched in 2017, Genies is an avatar-making platform, headed by Akash Nigam

Highlights

Rober Iger headed Disney for fifteen years
Iger is now part of Genies’ board
Iger is also an investor in Genies

Former Disney CEO Robert Iger has accepted a position at metaverse platform Genies. Iger, who headed the American entertainment major for fifteen years, has officially joined the board of the Los Angeles-based web3 firm. As part of his job, the 71-year-old will work towards integrating the worlds of entertainment and the virtual universe. Iger believes that the entertainment industry needs inroads into the metaverse world to create and sell digital items. Iger is also an investor in Genies.

“I've always been drawn to the intersection between technology and art, and Genies provides unique and compelling opportunities to harness the power of that combination to enable new forms of creativity, expression and communication,” Fortune quoted Iger as saying.

An official announcement on the development was shared on Twitter on March 14.

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Thrilled to be joining the @genies Board of Directors to help @akashrnigam and company empower humans to create the “mobile apps of web3”: avatar ecosystems.
— Robert Iger (@RobertIger) March 14, 2022

Launched in 2017, Genies is an avatar-making platform, headed by Indian-origin CEO, Akash Nigam. The company is registered in the US and is headquartered in Venice, California.

The company is the official avatar-maker for Universal Music Group and Warner Music, while also catering to high profile clients like Justin Bieber and Cardi B.

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Starring @justinbieber in:

:sparkles: Holy ft. Chance The Rapper: https://t.co/ecTeHiC73u

:evergreen_tree: Rockin' Around The Christmas: https://t.co/Z5cYIA8TYD
— GENIES (@genies) February 5, 2022

Nigam welcomed the former Disney chief onboard with a metaverse twist, transforming him into a virtual avatar, sharply dressed in hues of black.

…entering the chat :rotating_light: pic.twitter.com/ElEhSIChxl
— AK Nigam (@akashrnigam) March 14, 2022

“Our vision is ambitious and grand. And it will consistently require the sharpest, brightest mindshare in the world to help bring it to life. His insatiable curiosity overlaps directly with our fierce passion to bring avatars to all,” the 27-year-old Genies CEO said.

Research reports expect the market opportunity for the metaverse to reach $800 billion (roughly Rs. 59,58,719 crore) by 2024.

In recent days, Indian entertainment labels like T-Series have also forayed into the metaverse space.

Previously, international artists like Travis Scott, Justin Bieber, Marshmello, and Ariana Grande have hosted metaverse concerts, which allowed them to entertain their fans without gatherings to adhere to the social distancing norms of COVID-19.

This week on Orbital, the Gadgets 360 podcast, we dive into Apple's Peek Performance event. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Further reading: Metaverse, Genies, Disney, Robert Iger, Akash Nigam, Digital Avatar

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More