Animoca Brands acquires deadmau5’s metaverse gaming firm

Hong Kong-based blockchain firm Animoca Brands has acquired a majority stake in Pixelynx, a Los Angeles-based music and gaming firm.

Photo credit: Sterling Munksgard

In a statement, Animoca Brands said that it will integrate Elynxir, Pixelynx’s debut mobile game, into its ecosystem. Both companies will also focus on developing new formats for music consumption in the metaverse, which can become a new revenue generator for musicians and platform operators.

Founded in 2020, Pixelynx has created a music-metaverse ecosystem to help artists connect with their fans through gaming. Elynxir started limited access tests in October this year, with the full beta version expected to be available in the first half of 2023.

The firm was established by musicians Joel Zimmerman (deadmau5) and Richie Hawtin (Plastikman), along with Ben Turner, Dean Wilson, and Inder Phull. It raised a seed funding round led by Animoca Brands in December last year.

Pixelynx also operates an investment arm called LynxLabs that offers funding as well as technical and celebrity network support to new entertainment and music-related startups.

Last month, Animoca Brands co-founder Yat Siu said that the firm is planning to launch a US$2 billion fund to finance metaverse businesses.

See also: Animoca looks to forge metaverse rules with Web2 giants amid war of words