Named Delaktig, the bed/sofa can be modified into different styles and will launch at Milan design week this April.
Speaking at Milan's Salone del Mobile, Dixon said he sees the bed as an open-source "platform for living" that can be endlessly transformed using add-ons designed by other companies and individuals.
"Delaktig is an experiment that challenges the conventional methods of creation and distribution of furniture and explores the notions of adaptability and future-proofing," he said.
The design also fits in with IKEA's current focus on sustainable production, or a "circular IKEA" that encourages recycling and repair rather than the disposable way we currently treat much of our furniture.
"I think this is the kind of project that more and more companies are going to have to look at," said Dixon at a press conference last year. "How you (a) bring longevity into something but (b) also flexibility into objects as well, just to reflect the way that everybody's living these days."