a16z backs Wolf3D, the metaverse avatar platform

The Wolf3D startup behind the Ready Player Me platform has closed a $56 million Series B round led by Andreessen Horowitz (a16z).

Ready Player Me x @a16z

We’ve closed a $56M Series B funding round led by @Tocelot from @a16z GAMES FUND ONE and @cdixon from @a16z crypto!https://t.co/YeVo5Xfl7b

— Ready Player Me (@readyplayerme) August 23, 2022

Funding also came from Konvoy Ventures, Collab Currency, Plural Platform, Hartbeat Ventures, Roblox cofounder David Baszucki and Twitch co-founder Justin Kan.

The startup plans to double its headcount by year-end—from 50 to 100 employees.

Wolf3D is known for building avatar systems for Tencent, Wargaming, Huawei, Verizon and HTC.

To build a database of faces for Ready Player Me, the firm scanned more than 20 thousand people using about 100 cameras.

Users can create avatars for free on the platform, while developers can integrate Ready Player Me into apps and obtain assets ready for use. Among the startup’s 3,252 clients are VRChat, Spatial, Hiber, Pixelynx, Adidas, RTFKT and Dior.

In an interview with The Block, Wolf3D CEO Timmu Toke said that the next step would be the creation of “content tools” for avatars—accessories.

“Any individual artist can participate, create assets and sell them on an open market,” he explained.

According to Toke, Ready Player Me earns revenue from selling game assets through its partners.

As a reminder, in December 2021 the Ready Player Me team raised raised $13 million.

Earlier Konvoy Ventures launched a $150 million fund focused on Web3 games.

According to DappRadar, GameFi and metaverses posted the strongest momentum in the second quarter amid a bear market.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.