Animoca Brands Corporation Ltd has taken a majority stake in Pixelynx, Inc. through a controlled subsidiary.
Los Angeles-based music and gaming entity Pixelynx is a music metaverse gaming platform that operates across five countries, creating a physical and digital ecosystem for artists and fans by building products that blur the lines between music, gaming and Web3.
The company’s 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 has acquired a majority stake in Pixelynx to build, invest in and acquire studios, infrastructure and technologies that will power 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 ventures by offering them access to funding, artists, celebrities, token design and technical support.
LynxLabs has already invested into Volta XR and Oorbit.
Pixelynx's upcoming next-generation mobile gaming platform Elynxir will give fans access to their favourite artists through exclusive music content, in-game collectibles and playable immersive experiences.
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.
As an entirely new level of creative immersion and gameplay in the music metaverse, Elynxir aims to facilitate a new type of artist-to-fan collaboration that will transform how the music industry engages communities and monetises content, giving fans the opportunity to be collectors, collaborators, influencers and investors.
Animoca Brands and Pixelynx plan to focus on developing new formats of music consumption that can be scaled across the metaverse to unlock new revenue opportunities through the access that both companies have to a global network of platforms, infrastructure and rights-holders in the field of entertainment.
Pixelynx's Elynxir will be integrated into the Animoca Brands ecosystem with an emphasis on interoperability, open standards and new interactive audio-visual formats.
Co-founder and executive chairman Yat Siu said: "Pixelynx is one of the new wave of companies that are paving novel pathways for the music industry amid a major technological shift from centralised to decentralised 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."
Pixelynx CEO Inder Phull said: “Animoca Brands has established itself as a dominant player in building the shared vision of an open metaverse.
“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.”