Animoca Brands has secured a majority stake in the Los Angeles-based music metaverse gaming platform Pixelynx.
The company expects its acquisition will expand on the integration between gaming and Web3 technologies and communities. The financing terms of the acquisition were not disclosed. The company also implied that it would continue to invest in and acquire digital studios that aid in its effort to integrate the music industry with Web3.
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 conducted by Goldman Sachs, global music revenue is expected to reach $131 billion by 2030.
