Amazon Invests $20 Million in Web 3.0 Company Superplastic
Alexa Fund, the venture capital arm of Amazon, has made a 20 million USD investment to develop Superplastic, a company focused on the Web 3.0 space. The investment brings the company's total funding to 58 million USD, with this latest round involving many companies, including Google Ventures, Craft Ventures, Galaxy Digital, Animoca Brands, Sony Japan and others.
Superplastic specializes in the production of vinyl toys and 3D figures. In addition to physical products, the company has ambitions in the Web 3.0 space, in which it has invested heavily. It has also launched an NFT collection and collaborated with brands such as Gucci and Epic Games' Fortnite.
Superplastic has promised that this investment will make Amazon Studios a preferred choice for TV series or movies featuring their characters. There is currently one series in production featuring two Superplastic characters, titled "The Janky & Guggimon Show." The series tells the story of two characters, Cat and Rabbit, who will do anything for fame and fortune.
The characters are described by the team behind the series as "lazy and flamboyantly incompetent friends," with Janky being "a lovable idiot who spends all his free time conning celebrities," while Guggimon is "a fashion idol and master manipulator who is too narcissistic to care."
With this investment, Amazon wants to expand its reach using new technologies.
One of the main reasons Amazon invested in Superplastic is the reach of their virtual celebrities, who have millions of fans on social media. Alexa Fund CEO, Paul Bernard, acknowledged this fact and said in a statement that the reason why Superplastic characters are so popular is because users meet them on social media, or in video games like Fortnite.
He further stated that, "We consider them [the characters] a new class of intellectual property that will become increasingly important to younger generations."
The investment in Superplastic is also likely part of Amazon's plans to expand its reach when it comes to future technologies.
According to Paul Bernard, "This includes technologies such as synthetics, virtualization, generative artificial intelligence, Web 3.0 and more…Our company is looking to make strategic bets on these areas along with continued investment in startups developing voice, because part of our company's core values is to look to the future for long-term investments that will position us well, even if it takes some time for these technologies to become fully embedded in our daily lives."
Source: nftplazas.com
analyst opinion
Jakub Odvářka
Superplastic specializes in the production of vinyl toys and 3D figures. In addition to physical products, the company has ambitions in the Web 3.0 space, in which it has invested heavily. It has also launched an NFT collection and collaborated with brands such as Gucci and Epic Games' Fortnite.
Superplastic has promised that this investment will make Amazon Studios a preferred choice for TV series or movies featuring their characters. There is currently one series in production featuring two Superplastic characters, titled "The Janky & Guggimon Show." The series tells the story of two characters, Cat and Rabbit, who will do anything for fame and fortune.
The characters are described by the team behind the series as "lazy and flamboyantly incompetent friends," with Janky being "a lovable idiot who spends all his free time conning celebrities," while Guggimon is "a fashion idol and master manipulator who is too narcissistic to care."
With this investment, Amazon wants to expand its reach using new technologies.
One of the main reasons Amazon invested in Superplastic is the reach of their virtual celebrities, who have millions of fans on social media. Alexa Fund CEO, Paul Bernard, acknowledged this fact and said in a statement that the reason why Superplastic characters are so popular is because users meet them on social media, or in video games like Fortnite.
He further stated that, "We consider them [the characters] a new class of intellectual property that will become increasingly important to younger generations."
The investment in Superplastic is also likely part of Amazon's plans to expand its reach when it comes to future technologies.
According to Paul Bernard, "This includes technologies such as synthetics, virtualization, generative artificial intelligence, Web 3.0 and more…Our company is looking to make strategic bets on these areas along with continued investment in startups developing voice, because part of our company's core values is to look to the future for long-term investments that will position us well, even if it takes some time for these technologies to become fully embedded in our daily lives."
Source: nftplazas.com
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