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Mark Cuban, Pitbull, Paris Hilton’s Media Firm Fund Animation App Immi in NFT Push | Technology News



By Lisa Pauline Mattackal

(Reuters) – Animation app immi launched in Apple’s App Store on Wednesday after securing investments from billionaire Mark Cuban, singer Pitbull and Paris Hilton’s 11:11 Media, the latest in a spate of celebrity investments in companies focused on the metaverse and non-fungible tokens.

The company’s seed round of fundraising valued immi at $50 million, a spokesperson said. Other investors include Tony Robbins, Zoom founder Eric Yuan and musician Steve Aoki.

NFTs are digital assets that use blockchain technology to record who owns a digital file, which could be an image, a video or a text.

Paris Hilton, who has bought and created NFTs and invested in multiple cryptocurrency companies, posted a video of an animated Bored Ape NFT character to her Twitter account on Sunday.

Immi plans to launch its own characters as NFTs, in addition to animating more existing NFTs in the future, the company said.

Copyright 2022 Thomson Reuters.

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