Por Lisa Pauline Mattackal
BENGALURU, India (Reuters) – Animation app immi launched at the Apple store on Wednesday after securing investments from billionaire Mark Cuban, singer Pitbull and Paris Hilton’s 11:11 Media; in the latest celebrity investment round in companies focused on the metaverse and non-fungible tokens (NFTs).
The app, which creates animations that can be used on social media or the metaverse, will allow select owners of the popular NFTs Bored Ape Yacht Club and My Pet Hooligan to animate these characters.
The company’s fundraising round valued immi at $50 million, a spokesperson said. Other investors include Tony Robbins, Zoom founder Eric Yuan; and musician Steve Aoki.
Paris Hilton, who bought and created NFTs and invested in several cryptocurrency companies, posted a video of an animated Bored Ape character to her Twitter account on Sunday.
immi plans to release its own characters as NFTs, in addition to animating more existing NFTs in the future, the company said.
Venture capital investments in NFT-focused startups have surged in the past year, with more than $2 billion pumped into 331 companies, according to data provider Pitchbook.
(By Lisa Mattackal)
