Quick take:
- In-Game monetization firm Admix has teamed up with LandVault in a $300M merger.
- The newly formed company will be rebranded as LandVault and will consist of more than 160 staff including over 100 metaverse developers and artists.
- The merger will help onboard major brands into the metaverse.
Admix, a popular non-intrusive, in-game advertising service provider has teamed up with LandVault, the largest metaverse construction company in a $300 million merger to bring major brands to the metaverse.
The newly formed company will be called LandVault and will have more than 160 staff including over 100 metaverse developers and artists, the companies announced on Monday. Admix raised $25 million in a Series B funding round in October 2021, which it will be bringing along with its long list of leading brands to the metaverse.
Commenting on the merger, LandVault founder Ryan Inman said it will help the companies to gain access to more funding whilst also attracting more brand partners. “The merger with Admix gives LandVault enhanced opportunities to lead this metaverse,” he said.
Admix made its maiden metaverse debut this February, which subsequently inspired it to go all-in into the new frontier of the web. The company said it noticed a significant opportunity in building metaverse experiences for leading brands.
Admix CEO Sam Huber said that the company had made more from its metaverse ventures since February than it made from its media business over the past two years. The company opted to merge with a metaverse construction company amid increasing requests from big brands looking to enter the metaverse.
Admix’s media business involved embedding technology that enabled brands to place advertising in games. But it now wants to move away from the saturated web2 ad-tech and into the largely unexplored Web3.
“In an immersive environment like the metaverse, we foresee that intrusive advertising will disappear and native and in-play experiences will become the de-facto standard, giving us an edge,” Huber said.
The company wants to provide content in the metaverse, which it will then monetise using its proven technology, enabling the company to optimise value through vertical integration. We have already proven this model by helping several brands like L’Oreal enter the DCL Fashion week, and other projects still in progress,” he added.
The company is specifically looking to onboard brands that want to launch metaverse experiences on The Sandbox, Decentraland, and NFT World.
Some of the brands that could follow Admix to the metaverse in its new identity include mobile publishers, Gameloft and Supersonic, as well as, McDonald’s, Calvin Klein and Formula1, which the company helped reach the mobile gaming audience.
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