The LAMINA1 Ecosystem Fund (L1EF) Invests in Metaverse: Innovation Lab 0 Studio and Phygital Goods Platform Legitimate
With 60+ applications to join the rolling ecosystem fund in Q1 2023, L1EF is designed to provide broad economic access to investors looking to support the advancement of the Open Metaverse.
LOS ANGELES–(BUSINESS WIRE)–The LAMINA1 Ecosystem Fund (L1EF), launched by LAMINA1 as the world’s first publicly-accessible rolling ecosystem fund for a Layer1 blockchain, announced its inaugural investments in two disruptive Web3 companies that are building immersive technologies and experiences driving the future of the Open Metaverse: IP innovation lab and studio 0Studio, and Legitimate, a platform that bridges physical and digital experiences.
The first-of-its-kind fund serves two goals: to offer global accredited investors a way to gain direct investment access to early-stage Layer1 projects not previously accessible to the general public, and to provide Web3 builders a vehicle for raising capital for their Open Metaverse ventures. With a minimum commitment of $2,500 quarterly and $10,000 annually, L1EF’s AngelList roll-up structure allows accredited investors to access and co-invest in companies and entrepreneurs through quarterly subscriptions.
“Our goal at L1EF is to invest in builders, creators, and early-stage projects that broaden the LAMINA1 platform and bring the vision of an Open Metaverse to life,” said Peter Vessenes, Founding Partner of L1EF and Co-Founder of LAMINA1. “We’ll be investing in a range of interesting projects across the entire ecosystem, and a rolling fund allows us to bring economic access to the platform quickly.”
Following an extensive process, 0 Studio and Legitimate were selected as capital recipients due to both companies’ Web3 innovation and development initiatives. Co-founded by renowned Metaverse and NFT artist Krista Kim and Academy Award nominated and Emmy winning Producer Peter Martin, 0 Studio is developing the future of immersive experiences and hyper-realistic digital avatars to realize their vision of a high-fidelity, interoperable metaverse that will allow for the highest level of innovation and creative production possible.
“Our aim at 0 Studio is to develop solutions that address the pressing issue of the global mental health crisis and elevate human potential, harnessing the power of AI, science, and art for the Open Metaverse. We are confident that we can help promote a more inclusive and equitable Open Metaverse culture and create new opportunities for creators,” said Krista Kim, CCO of 0 Studio. “We are excited to be included in the LAMINA1 Ecosystem Fund and to work with the visionary team; we believe that our collaboration will have a significant impact on the future of education, well being, and creativity.”
Legitimate, created by Web3 veteran Calvin Chan, is the phygital infrastructure for the next generation of consumer retail applications. Legitimate’s NFC tags (termed LGT tags) allow creators to easily connect physical products to customizable digital experiences powered by NFTs and Web3, with no code or blockchain knowledge necessary. To date, Legitimate has partnered with brands such as Li Organics, the Overwatch League, and the Avalanche Summit to authenticate exclusive collections and tell experiential stories.
“When I first met the team, I was immediately blown away by the knowledge, experience, and network that they bring to the table. Legitimate is super excited to be partnering with LAMINA1 and the Ecosystem Fund to drive the future of phygital retail in an Open Metaverse,” said CEO and founder of Legitimate, Calvin Chan.
“0 Studio and Legitimate are both impressive companies with expert and inspiring leaders who showcase the positive potential of new technology through compelling use cases. From the outset, we have been impressed by their unwavering conviction, insightful perspectives, and emphasis on experience design,” said Rebecca Barkin, CEO of LAMINA1 and L1EF General Partner. “L1EF provides an opportunity to bring high-quality projects to our community that represent the diversity and design we want to see in our ecosystem; Krista and Calvin exemplify this vision and represent a strong round of initial investments.”
L1EF is optimistic about the future of the fund. Its inaugural investments place L1EF alongside investors spanning Polygon, Avalanche, Warner Brothers, HTC, and Epic Games. As it works towards fostering the quality tech and infrastructure necessary to support the LAMINA1 protocol, today’s announcement follows 14 weeks of impressive LAMINA1 ecosystem growth since the launch of its Testnet, with a notable 5X Discord community increase (including 38K+ LAMINA1 builders across the globe and counting) and a 55x engagement boost across LAMINA1 community and weekly developer quests.
“There are so many incredible artists, creators, and developers building towards the next era of the internet, which will be transformative for users and future economies,” said Jessica Toon, L1EF General Partner. “L1EF opens the door for investors to support creatives and builders at the forefront of the Open Metaverse movement.”
The fund is available for Q2 investment on AngelList. Metaverse builders and creators can also apply for funding by visiting L1EF.com.
In addition to capital, projects that are part of L1EF will receive early access to and support for LAMINA1 developer tooling through the forthcoming LAMINA1 Early Access Program. Those interested in building on LAMINA1 can apply for funding or signal their intent to join the future Early Access Program at LAMINA1.com/ecosystem. For all other inquiries, email the fund partners at [email protected].
About the LAMINA1 Ecosystem Fund (L1EF)The LAMINA1 Ecosystem Fund (L1EF) is the world’s first publicly accessible Layer1 ecosystem fund for investors and Open Metaverse builders. Created with AngelList, the rolling fund offers global accredited investors a simple way to gain direct access to early stage Open Metaverse ventures, while providing builders a vehicle for raising capital for their own metaverse projects on LAMINA1.
LAMINA1 is a Layer1 blockchain optimized for the Open Metaverse — providing builders and creators a flexible framework for a better online future. The organization was founded in June 2022 by renowned author and futurist Neal Stephenson, who originated the term “metaverse” in his 1992 novel Snow Crash, and crypto pioneer Peter Vessenes, digital currency expert and founder of the first venture-backed Bitcoin company.
Its mission is to deliver the infrastructure, API, and tooling needed to empower a vibrant, global community of Open Metaverse creators — championing the development of a robust, performant, and interoperable ecosystem that gives builders and consumers more agency and ownership in the next online era.