– Seeking to Develop New Opportunities in Both Digital and Physical Goods and Service Businesses –
TOKYO, Nov. 24, 2020 /PRNewswire/ — BANDAI NAMCO Entertainment Inc. headquartered in Tokyo announced on November 24 the forming of a capital and business alliance with Genies Inc., a Los Angeles, California-based start-up company that focuses on developing avatar technology and digital goods. As of August 2020, Genies Inc. established a Japan-based Asia headquarters and entity known as Genies KK. As a result of this capital and business alliance, BANDAI NAMCO Entertainment Inc. President & CEO Yasuo Miyakawa has been appointed as a Director at Genies KK.
The impact of COVID-19 on the world has changed the way people live their daily lives and their methods of communication. As social and physical distancing has been implemented globally to suppress the spread of COVID-19, access to live entertainment and social interaction has become a challenge. On the other hand, recent technological advancements in augmented reality, virtual reality, and 5G have improved the way consumers interact with each other using their digital identities, setting the foundation for the Metaverse, a fully immersive and virtual space that will serve as a branch or evolution of today’s internet. These factors have increased the need for a portable and highly personalized digital identity that can live with users across the internet.
During this time of great change and as one of the leading companies in the entertainment industry, BANDAI NAMCO Entertainment Inc. is seeking ways to provide more fun and a deeper sense of personal connection for everyone around the world, reflecting the changes occurring within the entertainment industry. As such, the company has formed the capital and business alliance with Genies Inc. and Genies KK to challenge itself and explore opportunities in the avatar business sector.
Genies Inc., a leading avatar technology company, works with thousands of celebrities such as Shawn Mendes, J. Lo, Offset, Rihanna, DJ Khaled, Justin Bieber, Cardi B, and J Balvin. After a year of building traction in Asia, including signings and collaborations with the likes of Namie Amuro, Daniel Wu, and Miyavi, Genies Inc. has decided to make Tokyo, Japan, its second home where it will continue working with celebrities, brands, and platforms, bringing its avatars to Asia.
Genies Inc. recently launched its new 3-D avatar and digital goods SDK (software development kit), enabling it to offer its avatar technology to consumers by integrating natively on SDK platforms. An announcement was made recently for the launch of its 3D avatar SDK with notable partners such as GUCCI and GIPHY. Plans for the development and release of digital goods for the avatars are underway as the company seeks to introduce its SDK on various platforms with the goal to become a leading provider of avatars around the world.
"BANDAI NAMCO has been a foundational partner for us as we expand overseas, not only for their local support in Asia, but also for their global expertise in the gaming and toy industries. Given their historic ability to build renowned IP brands from the ground up, we couldn’t be more excited to explore what we can do together for Genies IP, both in the digital and physical worlds," said Allison Sturges, Genies’ former Director of the Avatar Agency and now Director of Asia Operations. "Opening our second office in Tokyo will only further our ability to establish a local presence in the Asian markets."
BANDAI NAMCO Group’s portfolio of character IPs (intellectual properties) and extensive knowledge in the video game and toy sectors combined with Genies Inc.’s owned knowledge of the avatar business, network of celebrities, and their fans will bring about a new form of business within the digital and physical space. With character IP avatars, digital goods to dress up avatars, physical avatar figures, and more, BANDAI NAMCO Entertainment Inc. will be creating newfound way to deliver fun with avatars to everyone around the world.
"BANDAI NAMCO is always looking for opportunities to leverage valuable IP, and we believe Genies IP presents unlimited possibilities," said Yasuo Miyakawa, BANDAI NAMCO Entertainment Inc. President & CEO. "They have captured Western audiences by working with numerous well-known celebrities around the world and building a way for those celebrities to connect with their fans in the digital world. With the recent launch of their new 3D Genies, combined with their SDK technology and our ability to build brands — both digitally and physically — we know consumers around the world will gravitate towards the fruits of our relationship."
– Genies Inc.
Company Name: Genies Inc.
Business Address: 550 Rose Ave., Venice, CA 90291, USA
Executives: Akash Nigam/Evan Rosenbaum
Main Business: Avatar advertising agency business, SDK development
– Genies KK
Company Name: Genies KK
Business Address: Tokyo-to, Minato-ku, Minami Aoyama 2-chome, 26-32 SEIZAN 1-801
Executives: CEO, Akash Nigam (Genies Inc.; CEO)
Director, Yasuo Miyakawa (BANDAI NAMCO Entertainment Inc.; President & CEO)
Director, John Possman (Tower 6 Ventures; President)
Director, Shigeo Maruyama (former CEO of Sony Music Entertainment (Japan) Inc. and former Chairman of Sony Computer Entertainment Inc.)
Director, Shigehiro Nishi (ON THE LINE Inc.; Founder & Chairman)
Established: August 2020
Main Business: Avatar technology, SDK development, digital goods provider, avatar-advertising agency business
BANDAI NAMCO Entertainment Inc. seeks to create entertainment for modern-day lifestyles, while following its corporate slogan to deliver "More Fun For Everyone." The company strives to bring fun to everyone around the world.
*The information herein represents the information according to the date of the press release. Information may be updated without notice after release.
For more details about Genies, Inc., please visit: https://kyodonewsprwire.jp/attach/202011167134-O1-P9BJl668.pdf
For more details about BANDAI NAMCO Entertainment Inc., please visit: https://kyodonewsprwire.jp/attach/202011167134-O2-Qt0oLll0.pdf
For more information, please visit: https://www.bandainamcoent.co.jp/english/ or https://genies.com/.
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