This Week in Startups GameStop poaches Amazon execs, Streaming stalls + Genies CEO Akash Nigam on Avatars & NFTs | E1233
Jun 16, 2021
Akash Nigam, Founder and CEO of Genies, discusses the transformative power of digital avatars and NFTs in the virtual marketplace. He argues that everyone will soon have an avatar, reshaping online interaction. The conversation touches on the evolution of celebrity culture in the digital age, showcasing how figures like Cardi B engage with Gen Z through avatars. Nigam also highlights the innovative collaborations driving sales in digital goods, emphasizing the importance of relatability and enjoyment in appealing to younger audiences.
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Tether Investigation
- Tether's lack of transparency raises concerns about a potential $60 billion "crater" in the crypto market.
- This could trigger a contagion effect, impacting the broader economy due to the unregulated nature of crypto.
GameStop's Transformation
- GameStop, fueled by Reddit, has seen its stock price surge.
- They capitalized on this by raising capital and hiring former Amazon executives.
Retail Investors as Venture Capitalists
- GameStop's strong brand recognition and enthusiastic retail investors could create a unique advantage.
- Retail investors are becoming like super fans, blurring the lines between customer and shareholder.
