December 9, 2022
By Murtuza Merchant
Animoca Brands, a leading blockchain gaming, metaverse, and digital property company, has purchased the majority of shares in the music metaverse platform Pixelynx Inc.
Deadmau5 (Joel Zimmerman) and Richie Hawtin created the platform Pixelynx (Plastikman).
Ben Turner, Dean Wilson, and Inder Phull, veterans in the game and music industries, are also creators of the platform.
A bright future for web3 media is provided by this distinctive fusion of musicians and technologists.
What Does The Acquisition Of Pixelynx Mean For Web3 Music?
The direction of web3 music is in good hands now that Animoca Brands owns a majority share in Pixelynx.
The acquisition will enable the blockchain powerhouse to create, invest in, and buy studios, infrastructure, and technologies that will drive the music industry’s future.
With this relationship, Animoca Brands contributes its extensive knowledge of the top gaming and web3 communities.
A music and metaverse company based in LA that has operations in 5 nations is called Pixelynx.
The brand builds physical and digital ecosystems for artists and fans as it works toward the web3 future of music.
Additionally, the company will let creators decide how they want to design experiences for their partners, platforms, and fans.
Creators will be able to carve out new avenues for music lovers to create, share, and earn money from their music by moving on to newer methods of doing so.
On its platform, “ELYNXIR,” the premiere game from Pixelynx, will soon be released.
Next-generation mobile gaming platform Elynxir offers exclusive music content, in-game collectibles, and engaging immersive experiences.
Furthermore, Elynxir uses Niantic Lightship AR technology and has some significant plans to integrate the real-world and virtual worlds.
The Next-Generation of Mobile Gaming: Elynxir
In order for players to discover games, music, artists, collectibles, and fan-made content, the game combines cutting-edge augmented reality with geolocation.
This opens up a whole new tier of fan and creator experiences.
A big driver for the new music industry is the gaming component included in the platforms.
These large-scale collaborations enable significant shifts inside the music business.
Fans can now expand their reach beyond listeners.
They now take on additional roles in their favorite music, such as investors, collaborators, influencers, and collectors.
Yat Siu, co-founder and executive chairman of Animoca Brands, said: “PIXELYNX is one of the new waves of companies that are paving novel pathways for the music industry amid a major technological shift from centralized to decentralized ownership.”
Inder Phull, CEO of Pixelynx, states: “Animoca Brands has established itself as a dominant player in building the shared vision of an open metaverse. Finally, 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.”
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.
