Gaming firm Admix merges with metaverse specialist Landvault, reaching $300 million valuation
Gaming firm Admix, which specialises in product placements, has merged with metaverse construction company LandVault. The merger means Admix has a new valuation of $300 million (around €284 million).
The merger, which was announced by both companies on June 20, will see the companies combine under the LandVault brand. This new brand comprises over 160 members of staff, with 100 metaverse developers and artists.
In merging with LandVault, Admix will be adding approximately €24 million in growth capital that was raised in its Series B funding round in October 2021. It will also offer its roster of big name brands that have ambitions of making a mark in the virtual world.
“The merger with Admix gives LandVault enhanced opportunities to lead this metaverse”, LandVault founder Ryan Inman said.
Admix: from monetisation to the metaverse
Admix was founded in 2018. Through its In-Play service, the company says it offers “non-intrusive monetisation solution[s] for games and digital spaces that puts player experience first”.
The young company has already made a big impression in the gaming industry, forming partnerships with over 5,000 clients including Google, Amazon, Facebook, Uber and Paypal. Said companies come to Admix with hopes of engaging leads in the world of gaming. The metaverse, described as a network of 3D virtual worlds, appears to be the next big platform for online brand engagement and development.
Admix CEO Sam Huber was clear about distinguishing the potential of the universe from the volatility of something like the cryptocurrency market.
“It’s in the mainstream news that crypto is not doing well right now from a price point of view, but I think that’s very separate from the promise of the metaverse”, The CEO told Coindesk.
“Maybe some brands who are not true believers are going to delay entering the metaverse now, but I think we can still build a very big business on the brands that are brought in”.
Admix launched its first metaverse project in February 2022. Since then, revenue from said project has been higher than Admix’s media revenue, according to Huber.
With a growing number of revered clients requesting integration into the metaverse, the decision was made for Admix to merge with a specialist construction company… In walks LandVault.
LandVault: metaverse specialists involved in multi-million merger
Founded in 2021, LandVault describe themselves as specialists in “real estate acquisition, financial analysis, and online marketing” and “the backbone of the Metaverse”. It is a team of game designers and artists that specialise in a range of skills and operations. Despite being just over a year old, the company is thought to be the largest builder within The Sandbox, with over 100 builders.
LandVault is a prolific builder of virtual experiences, attracting clients into the worlds of blockchain and the metaverse. The company counts over 100 designers and developers in its team. The merged LandVault will feature over 180 members of staff, and aims to become a “dependable service provider for big clients to enter the metaverse”, with monetisation handled by Admix’s in-game advertising technology.
“We are integrating LandVault (creative capabilities) and Admix (monetisation tech) to become a one-stop-shop offering for brands or IP to enter the metaverse”, Huber told Gamesbeat.
LandVault will reportedly focus on three existing virtual worlds: The Sandbox, Decentraland and NFT World, with clients expected to enter their brands into these spaces.
“The merger with Admix gives LandVault enhanced opportunities to lead this metaverse. The two companies have substantial financial resources and thousands of brand partners between them”, said Ryan Inman, founder of LandVault. “Combined with the best development team in the business, these are strong attributes that will take LandVault to the next level”.