Netflix acquires metaverse identity platform; project with over $70 million in funding will cease operations

2025-12-20 03:00:11

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【CryptoWorld】Netflix officially announces the acquisition of the metaverse identity platform Ready Player Me. The specific amount and terms of the deal have not been publicly disclosed, but the platform confirmed that services will officially shut down on January 31, 2026, with the entire team joining Netflix.

Ready Player Me performed impressively during its funding stage, raising a total of approximately $72 million. The backers are also quite strong—supported by top-tier institutions like a16z and many industry experts. Co-founders of Roblox David Baszucki, Twitch co-founder Justin Kan, and GitHub co-founder Tom Preston-Werner have all invested in this project. This indicates that Ready Player Me has indeed gained recognition from many industry insiders in the field of metaverse identity authentication.

From its funding peak to being acquired by a major company and ultimately shutting down, this trajectory reflects the current reality of the metaverse market—ambitions are high, but independent survival is still very challenging. Netflix’s move shows that large content ecosystems still have a demand for metaverse identity management capabilities, but this demand is better suited for integration into their own systems rather than relying on third parties.

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TokenStorm

· 12-23 03:00

70 million in financing, only to be swallowed whole by Netflix. Who exactly bears the risk here? --- a16z couldn't even protect its position, which shows that big companies' acquisition moves are tougher than VC financing. --- I'm curious about how many zeros are on the acquisition price; it feels like Netflix treated it as a technical asset repository. --- Closing in 2026? On-chain data shows that the survival cycle of such projects has already revealed its patterns, barring any surprises. --- A few co-founders couldn't hold up; the identity verification in the Metaverse space isn't as appealing as imagined. --- Netflix is taking over the team directly; this shows that they see the cost curve of building in-house is higher than acquiring. --- After raising 70 million and finally being acquired, how did the investors backtest this deal... but I didn't enter a position anyway.

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GateUser-74b10196

· 12-21 06:37

It's the same old trap again, burning over 70 million to create something, only to have it acquired by a big company and then shut down. This is what they call "strategic integration."

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WhaleStalker

· 12-20 03:24

Another project was acquired by a big company. After raising 72 million, it was still bought out and shut down. Is this the fate of Web3? What is Netflix planning to do? Create virtual avatars? I find it a bit hard to understand. With backing from a16z and a bunch of industry giants, it still ended up in the hands of a big company. So realistic. Wait, did the entire team go to Netflix? What's the difference from just working there? Is the dream of fundraising still alive? Metaverse identity platform... It's 2025, and we're still talking about this?

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WagmiAnon

· 12-20 03:19

Another star project in funding is about to fail. Netflix acquired it for $72 million and then shut it down. It's a bit outrageous.

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CommunityLurker

· 12-20 03:18

Another acquisition and shutdown, this routine feels a bit familiar... Investing 72 million and still ending up dead This is why I say there's basically no business model for the metaverse identity sector. No matter how much money the big players invest, it's all in vain Is Netflix after the technology or the team? It feels a bit inexplicable Ready Player Me, backed by such a strong investor, still didn't survive. The industry is really cold Acquiring and then shutting down, what are the investors thinking... Is it a loss, everyone? The core issue is that no one is using it. No matter how advanced the technology, if users don't buy in, it's all pointless What's wrong with a16z's vision this time? Maybe they're not so divine Wait, does this mean Netflix is going to develop a virtual identity system, or is it just a pure acquisition of technology patents? It feels a bit fishy. Investing so much money, and in the end, both the people and the project are gone

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LiquidationWatcher

· 12-20 03:15

ngl, $72m raised and they still couldn't stay independent... watched this play out too many times, remember the 2022 reckoning? big names backing it means nothing when netflix just absorbs the whole thing. health factor on this one turned red real quick.

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WalletInspector

· 12-20 03:07

Another project that raised over 70 million in funding just shut down, this is Web3.

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