Animoca Brands Takes Majority Stake in Deadmau5 and Plastikman's Music Metaverse PIXELYNX
The acquisition will allow Animoca Brands to build the future of the music industry by leveraging PIXELYNX's music metaverse platform.
Animoca Brands expands into the music metaverse with PIXELYNX
Blockchain gaming giant Animoca Brands has acquired a majority stake in Pixelynx, Inc. to tackle the $131 billion music industry opportunity. PIXELYNX is a music metaverse platform by deadmau5 (Joel Zimmerman) and Richie Hawtin (Plastikman), launched in collaboration with music and gaming industry veterans Ben Turner, Dean Wilson, and Inder Phull.
Based in London and Los Angeles, PIXELYNX is a Web3 entity focused on building a music metaverse ecosystem that transforms how artists engage with their fans through gaming experiences. Its upcoming mobile game, ELYNXIR, aims to turn this into a reality by bringing fans closer to their favorite artists through exclusive music content, in-game collectibles, and immersive experiences.
With this acquisition, Animoca Brands will build, invest in, and acquire studios, infrastructure, and technologies that will power the future of the music industry. The company is looking to achieve this by utilizing gaming and Web3 technologies.
More about ELYNXIR
Powered by Niantic Lightship AR technology, ELYNXIR leverages advanced augmented reality and geolocation for players to discover games, music, artists, collectibles, and community-made content.
The Polygon-based mobile title began limited access tests in October, with its full beta to be launched in the 1st half of 2023. It will be integrated into Animoca Brands' ecosystem with an emphasis on interoperability, open standards, and new interactive audio-visual formats.
"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," said Yat Siu, co-founder and executive chairman of Animoca Brands. "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."
"Animoca Brands has established itself as a dominant player in building the shared vision of an open metaverse," said Inder Phull, CEO of PIXELYNX. "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."