A majority investment in Pixelynx, a music, and gaming company located in Los Angeles, has been bought by Hong Kong-based blockchain company Animoca Brands.
Animoca Brands said in a statement that it will include Elynxir, Pixelynx’s first mobile game, into its ecosystem. As a new source of income for musicians and platform operators, both organisations will concentrate on creating new formats for listening to music in the metaverse.
A music-metaverse ecosystem has been developed by Pixelynx, a company founded in 2020, to assist musicians in connecting with gamers. In October of this year, Elynxir launched restricted access testing. The complete beta version is anticipated to launch in the first half of 2023.
Along with Ben Turner, Dean Wilson, and Inder Phull, musicians Joel Zimmerman (deadmau5) and Richie Hawtin (Plastikman) founded the company. In December of last year, it secured startup money under the direction of Animoca Brands.
New entrepreneurs in the entertainment and music industries can receive money from Pixelynx as well as technical assistance and access to its celebrity network through its investment arm, LynxLabs.
Yat Siu, a co-founder of Animoca Brands, said last month that the company intends to create a $2 billion fund to invest in metaverse firms.
