In Finance, Insight, Trend

Avastars like Lil Miquela may not be real, but the money sure is. Brud, the company that created Lil Miquela, is currently closing a round of financing somewhere between $20 million and $30 million at a pre-money valuation of at least $125 million.

“The way I look at it… a lot of it is going to be like any kind of content studio,” Peter Rojas, a partner at the New York investment firm Betaworks Ventures, told Techcrunch. “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.”

New venture-backed companies like  Shadows, SuperPlastic and Toonstar are all developing avatars that will launch via social media channels or on their own platforms.

Read the full story on Techcrunch.

Photo: Lil Miquela via Instagram

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