Animoca Brands secures majority stake in music metaverse gaming platform

Digital entertainment, blockchain, and gamification institution Animoca Brands has secured a bulk involvement successful the Los Angeles-based euphony metaverse gaming level Pixelynx.

Animoca Brands expects its acquisition volition grow connected the integration betwixt gaming and Web3 technologies and communities, the institution announced connected Dec. 6. The financing presumption of the acquisition were not disclosed. 

Animoca implied that it would proceed to put successful and get integer studios that would assistance successful its effort to integrate the euphony manufacture with Web3 — a wide umbrella word that refers to immoderate aboriginal iteration of the net powered by blockchain technology.

Pixelynx already operates successful 5 countries and is presently gathering an ecosystem that blurs the lines betwixt music, gaming, and Web3, successful some the carnal and integer worlds. Ultimately, Pixelynx's ecosystem seeks to supply artists power implicit however they physique experiences with fans, partners, and platforms, arsenic good arsenic make innovative ways for euphony lovers to develop, stock and monetize music.

The integration of euphony and exertion appears to person a promising and profitable future. According to probe conducted by Goldman Sachs, planetary euphony gross is expected to scope $131 cardinal by 2030. 

Related: Party-to-earn: Blockchain breaking down the doors successful physics euphony community

Web3 technologies and the euphony manufacture look to beryllium dilatory integrating, thereby creating caller opportunities and income streams for creatives and euphony companies. As much musicians and executives incorporated Web3 tools specified arsenic nonfungible tokens (NFTs) to alteration audiences into progressive communities, the matrimony betwixt Web3 exertion and euphony is apt to turn stronger. 

In September, planetary euphony and amusement institution Warner Music Group announced a concern with NFT marketplace OpenSea to supply a level for prime philharmonic artists to physique and widen their fanbase into the Web3 community.