The avatar platform for the metaverse that allows users to explore virtual worlds with one consistent identity, Ready Player Me, has raised USD $13 million in a Series A funding round. The round saw participation from Taavet+Sten, a firm led by Taavet Hinrikus, the co-founder of fintech company Wise (formerly TransferWise), and Sten Tamkivi, Teleport co-founder, amongst others.
The startup describes its platform as ‘a connective passport for the metaverse.’ It enables interconnectivity within various virtual worlds by giving its users a single avatar that they can use to represent themselves.
The company plans to use the funds to expand its teams and operations worldwide and continue on its mission to make its product the default avatar system for the metaverse. Currently, the platform supports over 900 virtual worlds, a number that is set to expand rapidly.
Ready Player Me is also actively creating monetization tools to allow game developers to make money by selling NFTs and in-game avatar customization assets. It is a significant move as making NFT assets, such as wearables, to be supported across different virtual worlds could provide much value for NFT creators and fashion companies.
“2021 has been a breakout year for Ready Player Me – our avatar platform adoption has grown from 25 to 900 companies. 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,” said Ready Player Me, CEO Timmu Tõke.
“With the funding, we will scale our partner network further and will build out monetization tools for developers to help them make money with avatar customization assets and NFT’s. Our goal is to become the default system for the metaverse.”
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