Former Disney CEO Bob Iger to invest in and join board of avatar tech company Genies

Bob Iger, former chairman and chief executive of the Walt Disney Co. DIS, -1.41% is investing in and joining the board of Genies, an avatar technology company. Iger will join Bond’s Mary Meeker, NEA’s Rick Yang, Genies CEO & co-founder Akash Nigam, and Genies co-founder Evan Rosenbaum on the board. “We believe that avatar ecosystems are going to be the mobile apps of web3,” Nigam said in a statement. Genies has a 99% share of the celebrity avatar market and has partnerships with Universal Music Group and Warner Music Group as their “official avatar and digital goods NFT provider,” according to the statement.