Coming in today, we have Animoca Brands taking a majority stake in Pixelynx Inc. via its subsidiary group. Animoca Brands is one of the most important investors and Web 3.0 companies with a role in digital property rights for gaming and the metaverse. Its investment portfolio in Web3 is huge, and it continues to grow, shop, and acquire projects in this domain. Blockchain technology is spreading to other industries, with music being one of the most recent to adopt it. As we talked about in our last report, blockchain technology is making its way into the music industry, as new projects show. This recent stake acquisition will also shape the future of the music industry, but how? Let’s check it out.
A Hong Kong company called Animoca Brands just said that it has bought a big part of Pixelynx. The goal is to build music studios, invest in infrastructure, and buy other technologies that will help the music industry. This is possible because the music industry, the game industry, and the Web 3.0 domain all work together. Integration extends beyond the technological realm to include communities.
Music Metaverse Platform PIXELYNX
Joel Zimmerman, also known as deadmau5, and Richie Hawtin made Pixelynx, which is an interactive music ecosystem. It also boasts big names in the music and gaming industries like Dean Wilson, Inder Phull, Ben Turner, and more. Pixelynx is working on exploring the new venues the metaverse has to offer for the music industry. Using the metaverse and blockchain technology, the platform also looks for new ways for musicians to make money.
Pixelynx has offices in five countries, with its headquarters in Los Angeles. Its main goal is to make a music metaverse for musicians and a new platform for game studios called Elnyxir. In short, Pixelynx is making new ways for the music business to move forward, especially in the spirit of decentralizing ownership.
Also, the platform gives musicians the space and freedom to manage their relationships with fans, partners, and other platforms. It will also strengthen the music community and build new ways to create, share, and monetize music.
LynxLab Becomes Part of Animoca Brands
LynxLabs, Pixelynx's investment firm, is another worthwhile addition. It is an investment program to help music ventures based on Web 3.0 by offering them funding, artists, token designs, celebrities, and technical support. Its recent investments are in Volta XR and Oorbit.
ELYNXIR, PIXELYNX Debut Mobile Gaming Platform
Pixelynx is also launching its debut next-gen mobile gaming platform, ELYNXIR. The platform will bring fans and creators closer together through exclusive music content, NFTs, and games that use augmented reality technology to create immersive experiences. With the help of geolocation, players will also be able to find nearby games, artists, musicians, music, collectibles, and user content.
In the music metaverse, the ELYNXIR platform offers a unique, creative, and immersive way to play games. The mobile gaming platform will give artists and fans a new way to work together, which will change the way the music industry works. The fan community will be able to work together, collect money, and invest as well as have an impact. thus giving back the power to the common people through decentralization.
Lastly, ELYNXIR will be part of Animoca Brands' ecosystem, which aims for interoperability, new interactive audio-visual formats, and open standards.
Yat Siu Comments on PIXELYNX Share Acquisition
"PIXELYNX is one of a new wave of companies that are making new paths for the music industry during a major shift in technology 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," said Yat Siu, Co-Founder and Executive Chairman of Animoca Brands.
The Partnership's Strategic Outlook
So, from a strategic point of view, Animoca Brands and Pixelynx will work together to bring new music platforms, audiences, and stages to the metaverse. This will provide several revenue-generating opportunities for music artists. Both companies have the infrastructure, a strong global network of platforms, and are rights holders in the entertainment industry.
Back in December 2021, Animoca Brands led the seed funding round for PIXELYNX. Some other participants were Solana Ventures, Alumni Ventures Blockchain Fund, Republic Realm, Hyperedge Capital, Sfermion, and others.
About Animoca Brands
Animoca Brands is a top player when it comes to Web 3.0 and the entertainment industry. It has a broad portfolio of blockchain games and technology, like Revv tokens and SAND tokens, and games like The Sandbox, Crazy Defense Heroes, Crazy Kings, and more. It also makes products based on popular intellectual properties like Snoop Dogg, WWE, The Walking Dead, Disney, Power Rangers, MotoGP, Formula E, and a few others.
Animoca Brands also runs a number of subsidiary companies, such as GAMEE, The Sandbox, Eden Games, nWay, Blowfish Studios, Pixowl, and many more. Also, the company has more than 380 investments. Some of the more well-known ones are Harmony, OpenSea, Axie Infinity, Alien Worlds, Yield Guild Games, Dapper Labs, Colossal, Star Atlas, and some others.
Check our full story article on Animoca Brands
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