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Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
NFT collections like Cool Cats and Bored Apes Yacht Club have essentially become media franchises. The digital artworks are showing up as members of music groups, characters in comic books and stars of movies and TV series.
So it was only a matter of time before someone came up with a tried-and-true idea in franchise making: bring these disparate characters together in one show, much like an Avengers-style movie. That was the beginning of a brainstorm that led animation startup Invisible Universe to create its new series, “The R3al Metaverse,” which launched Tuesday. (Disclosure: dot.LA co-founder and executive chairman Spencer Rascoff is an investor in Invisible Universe)
“We at first were joking and saying, ‘Yeah, put them in a reality show, like all of [the NFT avatars] move into a house,’” Invisible Universe CEO Tricia Biggio recounted. “All of a sudden we were like, ‘Wait, is that a great idea?’”
“The R3al Metaverse” is an animated parody that follows five NFT characters who move in together and experience life in Los Angeles. Cast members are inspired by five major NFT collections: Bored Ape Yacht Club, World of Women, Doodles, Cool Cats and Robotos.
The short-form comedy, released as one- to two-minute episodes on social media, pokes fun at reality TV tropes and the debate over NFTs. In one episode, the characters stare at a painting and are confused by its lack of “real-world application” besides being a wall decoration.
Unlike traditional media franchises, NFT collections aren’t completely controlled by a single company. Each project has thousands of individual NFT holders who often have their own commercialization rights over their artworks. Invisible Universe bought three NFTs and secured licenses for two more to get characters that fit well with “The R3al Metaverse” story, Biggio previously told dot.LA.
In keeping with the decentralized ethos of blockchain technology, the Los Angeles-based startup plans to sell 7,200 “Producer Pass” NFTs that will let holders influence the show’s direction and give them a chance to bring their avatars onto the show. Invisible Universe, which recently raised $12 million in Series A funding, hasn’t yet decided how much these NFTs will cost when they drop next month, but Biggio said they’d likely be within the range of $150 to $200 each.
A crop of NFT media projects have similarly given individual holders creative input, from a community-driven novel project called Jenkins the Valet to an upcoming horror flick by filmmaker Kevin Smith. As it happens, the production company behind a reality TV show that Invisible Universe is parodying—“The Real World”—has its own plans to create NFT-backed programming.
It’s too early to know if such projects will appeal to a wide audience beyond early NFT adopters. Another looming question is whether giving fans input will help or harm the creative quality of such works. Biggio acknowledged that balancing act, saying her company has set “creative guardrails” such as the traits and motivations of main characters.
“But within those bounds, there's tons of room for collaboration,” Biggio added. For example, NFT holders will help write characters’ “confessional interviews,” a common reality TV device in which cast members speak directly to the camera.
Invisible Universe will release the first six episodes over the next two weeks on TikTok, Twitter, Instagram and other platforms. Fan contributions will start to show up within the first 10 episodes, Biggio said. The startup plans for at least 34 episodes.
“There’s an opportunity to poke fun at reality TV, as well as to poke fun at the kind of absurdity of the metaverse,” she said. “People struggle to define the metaverse or define Web3, and we think that there's a lot of comedy in that.”
Correction: An earlier version of this post misstated how many "Producer Pass" NFTs Invisible Universe is creating.
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”
The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.
Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.
Similar programs are common in the startup world and in the creator economy. For example, social media companies can use accelerator programs not only to support rising stars but to lure those creators—and their audiences—to the company’s platforms. Genies believes avatars will be a crucial part of the internet’s future and is similarly using its program to encourage creators to launch brands using Genies’ platform.
“I think us being able to work hands on with this next era—this next generation of designers and entrepreneurs—not only gets us a chance to understand how people want to use our platform and tools, but also allows us to nurture those types of creators that are going to exist and continue to build within our ecosystem,” said Allison Sturges, Genies’ head of strategic partnerships.
DIY Collective’s initial cohort will include roughly 15 people, Sturges said. They will spend three weeks at the Genies headquarters, participating in workshops and hearing from CEOs, fashion designers, tattoo artists and speakers from other industries, she added. Genies will provide creatives with funding to build brands and audiences, though Sturges declined to share how much. By the end of the program, participants will be able to sell digital goods through the company’s NFT marketplace, The Warehouse. There, people can buy, sell and trade avatar creations, such as wearable items.
Genies will accept applications for the debut program until Aug. 1. It will kick off on Aug. 8, and previous experience in digital fashion and 3D art development is not required.
Sturges said that the program will teach people “about the tools and capabilities that they will have” through Genies’ platform, as well as “how to think about building their own avatar ecosystem brands and even their own audience.” 
Founded in 2017, Genies established itself by making avatars for celebrities from Rihanna to Russell Westbrook, who have used the online lookalikes for social media and sponsorship opportunities. The 150-person company, which has raised at least $250 million to date, has secured partnerships with Universal Music Group and Warner Music Group to make avatars for each music label’s entire roster of artists. Former Disney boss Bob Iger joined the company’s board in March.
The company wants to extend avatars to everyone else. Avatars—digital figures that represent an individual—may be the way people interact with each other in the 3D virtual worlds of the metaverse, the much-hyped iteration of the internet where users may one day work, shop and socialize. A company spokesperson previously told dot.LA that Genies has been beta testing avatar creator tools with invite-only users and gives creators “full ownership and commercialization rights” over their creations collecting a 5% transaction fee each time an avatar NFT is sold.
“It's an opportunity for people to build their most expressive and authentic self within this digital era,” Sturges said of avatars.
The company’s call for creators could be a sign that Genies is close to rolling out the Warehouse and its tools publicly. Asked what these avatar tools might look like, the startup went somewhat quiet again.
Allison Sturges said, “I think that's probably something that I'll hold off on sharing. We will be rolling some of this out soon.”
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.
The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.
From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.
DoorDash’s Founding Story: Stanley Tang, a cofounder and chief product officer of delivery giant DoorDash, speaks with Pear VC's founding managing partner, Pejman Nozad. They'll discuss how to grow a tech company from seed stage all the way to an initial public offering. Aug. 19 at 10 a.m. to 12 p.m. in Santa Monica.
The Founders Guide to LA: A presentation from dot.LA cofounder and executive chairman Spencer Rascoff, who co-founded Zillow and served as the real estate marketplace firm’s CEO. Aug. 16 from 6 p.m. to 9 p.m. in Brentwood.
Time To Build: Los Angeles: Venture capital firm Andreessen Horowitz (a16z) hosts a discussion on how L.A. can maintain its momentum as one of the fastest-growing tech hubs in the U.S. Featured speakers include a16z general partners Connie Chan and Andrew Chen, as well as Grant Lafontaine, the cofounder and CEO of shopping marketplace Whatnot. Aug. 19 from 2 p.m. to 8 p.m. in Santa Monica.
How to Build Successful Startups in Difficult Industries: Leaders from Southern California’s healthcare and aerospace startups gather for panels and networking opportunities. Hosted by TechStars, the event includes speakers from the U.S. Space Force, NASA Jet Propulsion Lab, Applied VR and University of California Irvine. Aug. 15 from 1 p.m. to 5 p.m. in Culver City.
LA Tech Week Demo Day: Early stage startups from the L.A. area pitch a panel of judges including a16z’s Andrew Chen and Nikita Bier, who co-founded the Facebook-acquired social media app tbh. Inside a room of 100 tech leaders in a Beverly Hills mansion, the pitch contest is run by demo day events platform Stonks and live-in accelerator Launch House. Aug. 17 from 12:30 p.m. to 3 p.m. in Beverly Hills.
Registration information and a full list of LA Tech Week events can be found here.
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Jackie Fast doesn’t think celebrities make good entrepreneurs. Instead, they make for great company assets.
On this episode of the LA Venture podcast, the Sandbox Studios managing partner discusses why many celebrities are exploring startups. Sandbox is a $30 million seed-stage fund that invests in brands that are being built by celebrities.
“The motivation for me is absolutely everything,” Fast said. “Why is this person doing this? Often—I mean, 100 times out of 100—it's not because they care. They want to make more money.”
Fast started her consultancy, Slingshot Sponsorships, at 24, after she was passed over for a role at the organization at which she was working.
“I was very qualified for the role. Even to this day, I still am annoyed about it. I applied and the CEO just said, ‘You're too young. You need more experience’.” She quit soon afterward and by 26, Fast signed Prince as her second client—without realizing that the iconic musician was notoriously uninterested in sponsorships.
“Prince was one of my first clients and—I didn't know this at the time—but the reason we got Prince was because nobody wanted to work with him to do commercial stuff. Because he didn't care. He's all about the music.”
Fast helped launch his album “20Ten” through Spotify and the DailyMail. It was the first time an album had launched on the growing music platform, and the move helped Prince quickly climb the charts.
“That just catapulted me into the music scene,” Fast said.
She took on clients including The Rolling Stones, Duran Duran and One Direction.
“My whole ethos was that social media and digital technology was changing and shaping the way that consumers and fans could engage with the things that they loved,” Fast said.
Slingshot prepared Fast to evaluate celebrity-backed companies and consider how their audiences can help a product thrive.
“A brand fundamentally is trying to ship product. So there are certain times when consumers are more receptive to information. And a lot of that is when they are enjoying themselves, they're having fun, they're in a calm place,” she said. “So any of those kind-of core emotional, humanistic things that connect people with other people—if a brand can insert themselves in the middle of that—that's where the recall comes from. That's where you start associating your own individuality with a brand.”
Celebrities began eyeing equity deals more seriously after George Clooney sold his tequila company, Casamigos, for $1 billion in 2017. Instead of promoting the brand for cash as most celebrities do, Clooney—one of its founders—opted for equity. When the brand eventually sold, he did well.
“When George basically did nothing and made a billion dollars, everybody was like, ‘Oh my goodness, we should be doing this. Why are we taking fees?,” Fast said.
The problem, she added, is that most talent agents make their money through commission and wouldn’t benefit from equity deals. Many of them ignored celebrities’ requests, leading frustrated talent to reach out to startups on their own—sometimes even using DMs to initiate contact. Often the resulting deals were not good ones, Fast said. Large talent agencies including CAA and WME have since set up venture arms for their clients.
Sandbox’s portfolio includes Kylie Cosmetics, Fabletics and Aviation Gin. The fund also invested in the animation studio Invisible Universe, alongside partners including Reddit co-founder and investor Alexis Ohanian. Invisible Universe partners with celebrities to create animated characters and build their following on social media. Once they gain traction, they can become the basis for books, shows, podcasts and other creative ventures.
“With these small animation companies, they can turn around ideas in a day and a half,” Fast said. “They create short form content that goes on Instagram Stories, TikTok [and] Reels, and they build momentum and following through lots of short-form content.”
While Fast invests in products built by celebrities, she said she views them less as entrepreneurs and more as a way for companies to gain instant brand recognition.
“I'm investing in a route-to-market and an asset that most companies don't have access to,” she said. “I don't look at the celebrity as like a person or a founder. I look at the celebrity as the marketing arm or the marketing special dust that you can add to a product.”
dot.LA editorial intern Kristin Snyder contributed to this post.
Click the link above to hear the full episode, and subscribe to LA Venture on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.
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