Animoca Brands is making moves. Most recently, it acquired a majority stake in an LA-based music metaverse gaming platform.
Digital entertainment, blockchain and gamification company Animoca Brands has secured a majority stake in the Los Angeles-based music metaverse gaming platform Pixelynx.
According to its Dec. 6 announcement, Animoca Brands expects its acquisition will expand on the integration between gaming and Web3 technologies and communities. The financing terms of the acquisition were not disclosed. Animoca implied that it would continue to invest in and acquire digital studios that aid in its effort to integrate the music industry with Web3 — a broad umbrella term that refers to some future iteration of the internet powered by blockchain technology.
Pixelynx already operates in five countries and is currently building an ecosystem that blurs the lines between music, gaming and Web3, in both the physical and digital worlds. Ultimately, Pixelynx’s ecosystem seeks to provide artists control over how they build experiences with fans, partners and platforms, as well as create innovative ways for music lovers to develop, share and monetize music.
The integration of music and technology appears to have a promising and profitable future. According to research
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