Step Sequencer 3D Render for DiY…
I am wondering if it would be possible to build something similar to Livid Intruments CODE only with step sequencing in mind, so I made this just to see what it might look like.
I’d buy that if I had money 
you might want to increase a bit the distance between knobs, other than that: I WANT ONE
That looks sweet, v-ray?
As far as electronics go, probably.
I’d take a look at an Arduino Mega, or possibly some of Livid’s kit.
I’d say you could definitely do it with both, it’s just a matter of how electronics capable you are.
EDIT: The led rings around the encoders might be a problem. I haven’t seen any ready-made rubber parts that for that purpose, and getting enough pins out for all the leds might be a pain.