Metaverse Construction Company LandVault, Admix Game Advertiser Announces Merger
The construction company Metaverse LandVault and its advertising platform in play Admix said on Monday that they would merge and rebrand – a move that brought together more than 160 employees, including 100 Metaverse developers and artists, like $25M of growth capital.
Admix is merging with LandVault, a builder in metaverse worlds like The Sandbox and Decentraland, as it pivots into Web3. The combined company will be called Landvault and is valued at $300 million.
Landvault is a company that builds a wealth of virtual experiences in worlds to engage people in blockchain and metaverse ecosystems. Landvault has over 100 specialized metaverse designers and developers. Now, the new company is essentially a metaverse experience builder, aka metaverse builder, with 180 people.
Admix CEO and founder Sam Huber will lead the new entity while LandVault founders move into a new venture. Huber founded Admix in 2018 and has worked with brands such as Mcdonald’s, Calvin Klein, and Formula 1 to create in-game product positions. It recently launched a Metaverse offering and has raised $37M in funding.
Admix’s entire management team is also continuing and will operate autonomously.
The move comes as NFT expects to raise the premise of virtual land sales. In early June, Illuvium, a role-playing game that combines monsters with NFT, announced that it had raised more than $72M in digital land revenue.
The sale of Yuga Labs Metaverse land to its Otherside project also caused a rapid breakdown of Ethereum’s blockchain in May due to its popularity. The casting price was 305 ApeCoin, valued at approximately $5,800 at the time of casting. It brought in 16.7 million ApeCoin ($317M), making it a record-setting NFT foundry.
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