Animoca Brands takes majority stake in music metaverse firm PIXELYNX
LONDON & LOS ANGELES–(BUSINESS WIRE)–Animoca Brands Company Restricted (“Animoca Brands”), the corporate advancing digital property rights for gaming and the open metaverse, has taken a majority stake in Pixelynx, Inc. (“PIXELYNX”) by its managed subsidiary. PIXELYNX is a music metaverse gaming platform based by musicians and technologists deadmau5 (Joel Zimmerman) and Richie Hawtin (Plastikman) together with music and gaming business veterans Ben Turner, Dean Wilson, and Inder Phull.
PIXELYNX is a Los-Angeles-based music and gaming entity working throughout 5 nations. It’s making a bodily and digital ecosystem for artists and followers by constructing merchandise that blur the strains between music, gaming, and Web3 (a decentralized ecosystem primarily based on blockchain applied sciences). PIXELYNX’s ecosystem will present artists management over how they construct experiences with followers, companions, and platforms to create new methods for music lovers to develop, share, and monetise music.
Animoca Brands has acquired a majority stake in PIXELYNX to construct, put money into, and purchase studios, infrastructure, and applied sciences that may energy the way forward for the music business by integration with gaming and Web3 applied sciences and communities.
PIXELYNX operates LynxLabs, a brand new funding program to develop the following wave of music and leisure ventures by providing them entry to funding, artists, celebrities, token design, and technical assist. LynxLabs has already invested into Volta XR and Oorbit.
PIXELYNX’s upcoming debut sport ELYNXIR is a next-generation cellular gaming platform that may deliver followers nearer to their favourite artists by unique music content material, in-game collectibles, and playable immersive experiences.
Powered by Niantic Lightship AR know-how, ELYNXIR leverages superior augmented actuality and geolocation for gamers to find video games, music, artists, collectibles, and community-made content material. As a wholly new stage of artistic immersion and gameplay within the music metaverse, ELYNXIR goals to facilitate a brand new sort of artist-to-fan collaboration that may remodel how the music business engages communities and monetizes content material, giving followers the chance to be collectors, collaborators, influencers, and traders.
The worldwide music income is predicted to achieve US$131 billion by 2030 (supply: Goldman Sachs, 2022). From a strategic match perspective, Animoca Brands and PIXELYNX will concentrate on creating new codecs of music consumption that may be scaled throughout the metaverse to unlock new income alternatives by the entry that each firms should a world community of platforms, infrastructure, and rights-holders within the area of leisure.
PIXELYNX’s ELYNXIR might be built-in into the Animoca Brands ecosystem with an emphasis on interoperability, open requirements, and new interactive audio-visual codecs.
Yat Siu, co-founder and government chairman of Animoca Brands, commented: “PIXELYNX is one of the new wave of companies that are paving novel pathways for the music industry amid a major technological shift from centralized to decentralized ownership. 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.”
Inder Phull, CEO of PIXELYNX, commented: “Animoca Brands has established itself as a dominant player in building the shared vision of an open metaverse. 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.”
Animoca Brands had beforehand led a seed funding spherical of funding for PIXELYNX in December 2021 with participation from Solana Ventures, Alumni Ventures Blockchain Fund, Hyperedge Capital, Republic Realm, Sfermion, and others (see announcement of 6 December 2021).
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