Animoca Brands buys majority stake in music metaverse – PIXELYNX
Animoca Brands has announced that it has acquired a majority stake in the music metaverse gaming platform – PIXELYNX. Acquiring this through its controlled subsidiary, Pixelynx inc was a metaverse platform established by renowned musicians and technologists Deadmau5 (Joel Zimmerman) and Richie Hawtin (Plastikman) and gaming industry veterans Ben Turner, Dean Wilson, and Inder Phull.
According to the global metaverse company, its acquisition was to build, invest in and acquire studios and companies that can push forward the digital future of the music industry.
PIXELYNX operates across five countries and serves as a physical and digital ecosystem. Promoting itself as a blurring of lines between music, gaming and web3. Its ecosystem will provide artists control over how they build experiences with fans, partners, and platforms to create new ways for music lovers to develop, share, and monetise music.
Animoca Brands had previously led a seed funding round for PIXELYNX in December 2021 with participation from Solana Ventures, Alumni Ventures Blockchain Fund, Hyperedge Capital, Republic Realm, Sfermion, and others (see the announcement of 6 December 2021).
Along with its dedicated ecosystem, the company also operates LynxLabs – its new investment program that supports the development of upcoming artists and music by offering access to funding, networking, token design and more. LynxLabs has already invested into Volta XR and Oorbit.
The ecosystem also has its upcoming debut game ELYNXIR is a next-generation mobile gaming platform that will bring fans closer to their favourite artists through exclusive music content, in-game collectables, and playable immersive experiences.
PIXELYNX’s ELYNXIR will be integrated into the Animoca Brands ecosystem with an emphasis on interoperability, open standards, and new interactive audio-visual formats.