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More and more investors are interested in Avastars

February 07, 2019

Brud, the company that created Lil Miquela, currently closed a round of venture capital financing in the range of $ 20 million to $ 30 million at a pre-determined price of at least $ 125 million.

The avastardom experiments have instilled in popular culture / Ph. Pinterest

The audience seems ready to receive more virtual avatars

Brud, the company behind virtual celebrity – Lil Miquela, is currently worth at least $ 125 million thanks to new financing round that the company is currently closing. Meanwhile, new joint-venture companies such as Shadows, SuperPlastic and Toonstar are developing virtual characters that will debut through social media channels like Snap and Instagram or on their own platforms.

Peter Rojas, a partner at the New York investment firm Betaworks Ventures, said: “The way I look at it… a lot of it is going to be like any kind of content studio. In 2019 and 2020 we’re going to see a lot of these… we’re going to see a lot of people putting out a lot of stuff.”

Investors supporting these companies say it is the rise of a new studio system – an independent system of personality and scandals that have identified a generation of Vine stars, YouTube and Instagram. It attracted serious venture capital too.

The avastardom experiments have instilled in popular culture since at least the rise of Gorillaz – the assembled super musical group Damon Albarn released the first EP “Tomorrow Comes Today” at the end of 2000. Depending on your definition, perhaps as early as Space Ghost Coast to Coast, the mid-1990s animated series has an animated superhero interviewing real celebrities.

It’s hard to overstate the importance of working with virtual characters, according to John Attanasio – co-founders at Toonstar. “We understand how much money you can make from the IP. When we’re working with creators or influencers they understand that you have this shelf life as an influencer, but as IP, that can go on in perpetuity. There is something to be said about building a character. We’re all children of Saturday morning cartoons.”

Keep update latest news on this virtual influencer trend.

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