Animoca Brands, the digital property rights company for games and the open metaverse, has acquired a majority stake in Pixelynx, Inc. (“PIXELYNX”) through its subsidiary.
PIXELYNX is a music metaverse gaming platform founded by musicians and technologists deadmau5 (Joel Zimmerman) and Richie Hawtin (Plastikman) along with music and video game industry veterans Ben Turner, Dean Wilson and Inder Phull.
We are pleased to announce that @animocabrands, the company advancing #DigitalPropertyRights for #gaming & the #OpenMetaverse, has taken a majority stake in @pixelynx_io through its controlled subsidiary.
Read the full announcement: https://t.co/jrpZXaE8qd
— Animoca Brands (@animocabrands) December 6, 2022
PIXELYNX
PIXELYNX is a Los Angeles-based music and gaming entity operating in five countries. It is creating a physical and digital ecosystem for artists and fans, creating products that blur the boundaries between music, games and Web3 (a decentralized ecosystem based on blockchain technologies).
The PIXELYNX ecosystem will give artists control over how they build experiences with fans, partners and platforms to create new ways for music lovers to develop, share and monetize music.
Animoca Brands and its majority stake in Pixelynx
Animoca Brands has acquired a majority stake in PIXELYNX to build, invest and acquire studios, infrastructure and technologies that will drive the future of the music industry through integration with gaming and Web3 technologies and communities.
PIXELYNX operates LynxLabs, a new investment program to develop the next wave of music and entertainment companies by providing them with access to funding, artists, celebrities, token design and technical support.
ELYNXIR, PIXELYNX’s first game, is a next-generation mobile gaming platform that will bring fans closer to their favorite artists through exclusive music content, collectible items and immersive gaming experiences.
Powered by Niantic Lightship AR technology, ELYNXIR leverages advanced augmented reality and geolocation to enable players to discover games, music, artists, collectibles and community-created content.
As a new level of creative immersion and gamification in the music metaverse, ELYNXIR aims to facilitate a new type of collaboration between artists and fans that will transform the way the music industry introduces communities and monetizes content, allowing fans the opportunity to be influencers, collaborators, collectors and investors.
Global music revenues are expected to reach $131 billion by 2030 (source: Goldman Sachs, 2022).
From a strategic perspective, Animoca Brands and PIXELYNX will focus on developing new music consumption formats that can scale across the metaverse to unlock new revenue opportunities through both companies’ access to a global network of entertainment platforms, infrastructure and rights holders.
ELYNXIR by PIXELYNX
ELYNXIR by PIXELYNX will be integrated into the Animoca Brands ecosystem with a focus on interoperability, open standards and new interactive audiovisual formats.
Yat Siu, co-founder and CEO of Animoca Brands, commented, “PIXELYNX is part of the new wave of companies that are breaking new ground for the music industry in the context of a major technological shift from centralized to decentralized ownership. We are thrilled to welcome PIXELYNX to the growing Animoca Brands family and look forward to helping shape the cutting edge of the music industry as we build innovative new experiences for people around the world.”
“Animoca Brands has positioned itself as a major player in building a shared vision for a better metaverse. This deal marks the beginning of a new era in the music industry where Web3, gaming and transmedia content will unlock new formats, revenue streams and business models to support fans, artists and record labels.” said Inder Phull, CEO at PIXELYNX.
Previously, Animoca Brands had led a seed funding round for PIXELYNX in December 2021 with participation from Alumni Ventures Blockchain Fund, Hyperedge Capital, Sfermion, Solana Ventures, Republic Realm, among others.
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