Jadu is developing an augmented-reality mobile app that connects to players’ Ethereum wallets and turns 3D animated NFTs into controllable, third-person avatars that move around real-world spaces. The app integrates avatars from collections like Deadfellaz, CyberKongz, FLUFs and some from The Sandbox, and is expected to emerge from beta testing this summer. Jadu began with AR experiences that let users place life-like holograms of music artists and pivoted to Web3 gameplay, selling NFT accessories such as jetpacks and hoverboards. The company earned more than $5 million from initial NFT sales and collects a 5% commission on roughly $25 million in secondary sales to date. The team is roughly 50 people with much of its leadership based in Los Angeles, and the company was launched in 2020. Jadu plans to use the new funding to grow its team, build out its gaming platform, and release its first in-house avatar NFT collection, which it expects to be the primary revenue source this year. Jadu builds AR experiences and sells NFT virtual accessories such as pixelated jetpacks and hoverboards. Its virtual accessories can be used with other 3D avatars including Larva Labs’ Meebits, CyberKongz and DeadFellaz, and can be viewed and raced in its AR app, The Mirrorverse. The company sold 6,666 NFT hoverboards for $4.4 million worth of Ethereum over a weekend and has made millions selling jetpacks and hoverboards. CEO Asad J. Malik said the team could "milk people" with high‑priced NFT mints but that approach is not sustainable or the company's focus. Jadu hopes to eventually turn The Mirrorverse into a full‑fledged Pokémon GO‑like game. For now, NFTs serve as a funding mechanism while the team concentrates on building broader AR platform and gameplay.

Total raised

$43M

Funding rounds

2

Latest round

Series A

Latest activity

May 2022