Admix, one of the leading companies in ad placement, reached a valuation of $ 300 million after its merger with LandVault, which focuses on metaverse structures. The union took place after Admix’s metaverse project launch in February.
Admix, which partnered with big companies such as Doritos, Calvin Klein, and F1 in the past, aims to double its speed with solid partnerships with big brands. The LandVault partnership, which focuses on The Sandbox, Decentraland, and NFT World metaverses, will be realized with this vision. Admix CEO Sam Huber told CoinDesk that the company’s metaverse revenue has already surpassed its media revenue for the past two years.
“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. 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.”Sam Huber – CEO, Admix
The new entity, branded LandVault, will have more than 160 employees, including 100 metaverse developers and artists. In addition, Admix was backed by a $25 million Series B funding round last October.
LandVault founder Ryan Inman said in a press release that the merger increased companies’ access to “substantial financial resources and thousands of brand partners.”
“The merger with Admix gives LandVault enhanced opportunities to lead this metaverse.”Ryan Inman – Founder, LandVault