• 28 May, 2024
News

Animoca Brands Takes Majority Stake in Music Metaverse Company PIXELYNX

Hong Kong-based digital entertainment, blockchain, and gamification company, Animoca Brands, has acquired a majority stake in PIXELYNX, a music metaverse gaming platform, through its controlled subsidiary.

Animoca Brands has purchased a majority stake in PIXELYNX in order to build, invest in, and acquire studios, infrastructure, and technologies that will power the music industry’s future through convergence with gaming and Web3 technologies and communities.

PIXELYNX is a Los Angeles-based music and gaming company founded by musicians and technologists Deadmau5 and Plastikman and music and gaming veterans Ben Turner, Dean Wilson, and Inder Phull. They are developing products that blur the lines between music, gaming, and Web 3.0, to create a physical and digital environment for musicians and fans.

Pixelynx’s ecosystem aims to give artists more control over how they build experiences with fans, partners, and platforms, as well as to develop new ways for music fans to create, share, and commercialise music.

We are thrilled to welcome PIXELYNX to the growing family of Animoca Brands and we look forward to helping to shape the forefront of the music industry while building new and innovative experiences for people around the world.

said Animoca Brands co-founder and executive chairman Yat Siu.

Animoca Brands expects its acquisition to broaden the integration of gaming and Web3 technologies and communities, according to a Dec. 6 announcement. The acquisition’s financing terms were not revealed.

Animoca implied that it would continue to invest in and acquire digital studios to aid in its efforts to integrate the music industry with Web3.

Animoca Brands has established itself as a dominant player in building the shared vision of an open metaverse,” said PIXELYNX CEO Inder Phull. “This deal marks the beginning of a new era in the music industry in which Web3, gaming, and transmedia content will unlock new formats, revenue streams, and business models that support artists, fans, and labels.

PIXELYNX’s upcoming debut game ELYNXIR will be integrated into the Animoca Brands ecosystem to operate with interoperability, open standards, and new interactive audio-visual formats. ELYNXIR is a next-generation mobile gaming platform that will bring fans closer to their favourite artists via exclusive music content, in-game collectibles, and immersive playable experiences.

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