• Admix, an in-game advertising (IGA) platform, announced that it has merged with Landvault, the largest metaverse building studio, as it shifts its focus away from its existing web2 IGA solutions and toward web3 and metaverse AdTech offerings. As a result, Admix will be rebranded in its entirety as Landvault.

• Founded in 2021, Landvault is a platform-agnostic metaverse construction firm with a focus on Sandbox, Decentraland, and NFT World metaverses. 

• The merger will more than double Admix’s employee count and would bring with it the USD 25 million series B round funding raised in October 2021 as growth capital. The combined entity is estimated to be valued at USD 300 million.

• The firm also claimed that its metaverse offerings (launched in January 2022) have overtaken its in-play revenue stream during June 2022 and are growing 4x faster. Hence, Admix will discontinue its standard web2 IGA solutions in 60 days’ time and focus exclusively on web3 metaverse offerings.

<ul><li> Analyst QuickTake: As highlighted in our Anzu.io teardown , a number of IGA platforms, including Admix, have increased their focus on expanding their metaverse offerings. As the first firm to focus exclusively on AdTech offerings for metaverse and web3, Admix would have a first-mover advantage over its peers in this segment that has attracted a high degree of interest and funding. See our recent SPEEDA Edge insight on web3 for further details on the industry.</ul>