GENIES LAUNCHES $1M DEVELOPER ENGAGEMENT FUND TO INCENTIVIZE AVATAR EXPERIENCES VIA THEIR AR DEVELOPER KIT

The First Developers That Can Gain Access to The Fund Will Be Those That Are Accepted Into The Genies Developer Incubator to Build The First Genies XR-Ready Experiences

The Developer Kit Provides Three Key Tech Components For Building Avatar Experiences: Avatar Framework, XR Compatibility, and AI Generative Gameplay Bot

LOS ANGELES, June 22, 2023 /PRNewswire/ -- Genies, culture's leading avatar tech company, announced today that it is launching a $1M Developer Engagement Fund for developers building AR experiences for an interoperable avatar social network. The fund will support Avatar Experience builders, allowing them to unlock funding based on performance benchmarks across each individual experience and the collective of all experiences, given the experiences will be built with interoperability in mind.

The first developers that will gain access to the Dev Kit and Fund will be those that are selected via application for The Genies Developer Incubator. Through the Incubator and Fund, Genies is looking to empower and foster the next era of developers: Avatar Experience Builders. The Incubator will provide the opportunity for builders to receive mentorship from Genies to support them as they create their Experiences, along with the opportunity to collaborate with other developers as they create and launch the first Genies' XR-ready Experiences.

The Genies Dev Kit includes a state-of-the-art Avatar Framework that allows for any type of avatar variety and aesthetic, an AI Generative Gameplay Bot to help craft interoperable Experiences and generate gameplay, and XR Compatibility allowing for embodiment with high performance and quality. This tech will allow developers to create a variety of Experiences ranging all the way from mini games to social worlds and allow their AR Experiences to be brought together in a shared ecosystem as an interoperable avatar social network.

"Avatars are now prerequisites for any interactive and social experiences for the future of hardware that is now upon us," said Akash Nigam, CEO of Genies. "We've been dreaming about this moment for years and we're excited to help power and create the use cases for this new reality."

The debut of Genies' Avatar Social Network is expected to roll out this fall with the initial set of Experiences being built by developers that participate in the Incubator, with dozens more launching through the end of year, eventually connecting millions of AR Experiences for users to transport their Genies and Things into a variety of use cases.

Application & Eligibility

Developers applying for the Genies Developer Incubator will be evaluated based on their product-minded and entrepreneurial prowess, their previous experience with Unity or other gaming/XR projects, and their ability to think creatively around how they would leverage Genies' avatars and tools to enhance the overall AR experience. Successful applicants will not only receive financial and resource support from Genies' team to learn how to build their Experiences, but will also gain access to Genies' vast network of industry experts, who will provide guidance and mentorship to help developers maximize the opportunity.

The first developers that will be eligible for the fund will be candidates that are selected for Genies' Developer Incubator, which will be launching this summer with the first cohort and will continue to roll out new cohorts on an ongoing basis.

The application process for the Genies Developer Incubator is now open, and developers are encouraged to submit their applications through the Genies website.

For more information about the fund, eligibility criteria, and application guidelines, please visit http://genies.com/incubator

About Genies Inc.
Genies is culture's leading avatar technology company empowering humans to create their own avatar experiences. To-date, Genies has been widely adopted by cultural tastemakers and has deals with Universal Music Group and Warner Music Group as their rosters' "official avatar." Genies has recently launched its consumer arm via its AR Developer Kit which allows developers to create interoperable avatar experiences for mobile and hardware AR. Their first avatar experience, Silver Studio, allows users to design and exchange digital fashion. Genies has raised $250M from investors such as Silver Lake, BOND, NEA, and Bob Iger valuing the company at $1 billion.

SOURCE Genies