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The Korea Herald
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THE INVESTOR
November 26, 2024

Market Now

Samsung Electronics invests in avatar platform Ready Player Me

  • PUBLISHED :December 30, 2021 - 10:21
  • UPDATED :December 30, 2021 - 10:21
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Avatars of Ready Player Me (Ready Player Me)

Samsung Electronics has invested in Ready Player Me, a 3D avatar platform for the metaverse that allows users to explore virtual worlds with one consistent identity, according to a press release Dec. 29.

Samsung Next, a Samsung Electronics subsidiary that invests in startups with promising technologies, participated in a $13 million series A funding round led by venture capital firm Taavet+Sten.

According to Ready Player Me, the funding will be used to grow its global presence as the default avatar system for the metaverse. Ready Player Me, which currently supports more than 900 virtual worlds, is investing in a monetization model that helps developers make money by selling nonfungible tokens and in-game avatar customization assets.

The investment will allow Samsung to accelerate its foray into the metaverse market. Samsung Next previously invested in spatial computing startup Teleportal and creator tools developer Overwolf.

By Kim Byung-wook (kbw@heraldcorp.com)

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