Technology

Ready Player Me, an interoperable metaverse avatar service, raises $56 million.

One of the great promises of the “metaverse” is to make different virtual worlds interoperable, to connect them in a single experience, and one of the conditions for this is to be able to transpose an avatar from one experience to another (and into one). device to another). This is the mission of Ready Player Me, an Estonian startup that just raised $56 million in Series B funding from gaming fund Andreesen Horowitz One and a16z cryptocurrency funds, as well as several angel investors from well-known companies such as Roblox, King and Twitch.

Ready Player Me, founded in 2020, develops an engine for creating animated 3D avatars for use in third-party virtual worlds. One of the salient features is that customization can be done with a simple selfie. “We are the avatar interoperability layer for the metaverse,” the company says.

The Tallinn-headquartered startup works with VRChat, Spatial, Hiber, Pixelynx, Adidas and Dior, among others. A total of 3,000 partners have been announced (game creators, brands launching marketing campaigns, etc.), for which 5 million avatars have been created.

“passport to the metaverse”

The founders of the startup spent six years developing their technology in Wolf3D before creating Ready Player Me. The company explains that thanks to its solution, developers of online games and virtual worlds do not need to develop part of their avatar universe themselves. . On the user side, the advantage is that you don’t have to recreate it for every experience. This makes Ready Player Me what can be called a portable identity provider as a service or, as it defines itself, a “passport to the metaverse”.

These funds will be invested in technology, staff, new developer tools to add customization options for avatars, and solutions for interfacing with other character creation engines. Last January, Ready Player Me raised $13 million from Taavet + Sten.

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