Animoca Brands Acquires Significant Stake in Pixelynx
Animoca’s desire to expand its Music, Web3, and gaming portfolio is set to benefit from the Pixelynx platform. Animoca Brands confirmed acquiring majority ownership in the Los Angeles-based firm dealing in gaming, music, and metaverse.
The December 6 announcement by Animoca indicated the takeover would expedite Web3 technologies and gaming integration with the communities. While the gamification and blockchain company concealed the financial terms in the deal, it restated its goals of collectively expanding the Web3 ecosystem alongside gaming and music segments.
Potential Benefits of Anomica-pixelynx Partnership
Animoca’s representative echoed previous revelations of pursuing digital studios with the capacity to enhance current Web3 integration with music. The representative lauded Pixelynx for expanding operations in five countries. He observed Pixelynx efforts to establish an ecosystem that physically and digitally blurs music, gaming, and Web3 distinct features.
Pixelynx spokesperson illustrated the ultimate goal in the ecosystem is enhancing artists with control over their experience with partners and fans. Also, the ecosystem aims to deliver an innovative platform to enable music fans and lovers to create, share and monetize their artistry in music.
Animoca’s continued pursuit of integrating music and technologies is oriented to tap into its profitable future. Such is attainable for the company considering the latest Goldman Sachs report forecasting the music earnings to exceed $131 billion in a decade.
The integration of Web3 technologies and the music segment portrays gradual integration with the emergence of new income streams rewarding creatives and music firms. As more musicians embrace Web3 tools to create nonfungible tokens (NFTs), a huge audience will translate into active communities. Such occurrences will prompt the Web3 technology to link with music more stronger.
Series of Partnerships in Web3 Space Projects
The integration of global music into conventional entertainment recently prompted Warner Music Group to engage OpenSea. The September announcement confirmed Warner Music Group (WMG) partnered with OpenSea. The NFTs marketplace admitted the partnership would help build a channel that musical artists will establish and expand their fanbase.
The partnership with OpenSea advances previous efforts of WMG to build out its expertise in the Web3 space. Warner Records UK confirmed a joint project with Probably Nothing to release music NFTs using the latter’s Web3 expertise. WMG would later announce partnering with Splinterlands in developing play-to-earn games.
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