Quick take:
- Other investors in the round included Foresight Ventures, OKX Ventures, Big Brain Holdings, Vertex Ventures and Comma3 Ventures, among others.
- Dingaling, Grail, Wilson, Cristian, Skyline, Sam, Web3honey, and Elthen joined as angel investors.
- Earlier this week, L3E7 initiated its inaugural testing phase, drawing participation from multiple builders.
L3E7, a 3D location-based (LBS) Web3 gaming studio has announced a $10 million funding round across two tranches completed between 2022 and 2023. LongLing Capital led the angel round, while Spartan Group and SevenX Ventures led the Series A round.
Other participants in the round included Foresight Ventures, OKX Ventures, Big Brain Holdings, Vertex Ventures, Comma3 Ventures, Meta Labs, Marvellous Creature, Giantwood, Mantle EcoFund, BitValue, Hailstone Labs, LiquidX, and Buzzone while Dingaling, Grail, Wilson, Cristian, Skyline, Sam, Web3honey and Elthen joined as angel investors. L3E7 did not disclose the valuation at which the funds were raised.
The company also announced it has its inaugural testing phase, with thousands of builders participating.
L3E7’s core team of AAA gaming vets are leveraging proprietary technology and data sourced from Google Maps to build a game that depicts cyberpunk 3D Earth cities.
The game’s native NFT collection, which debuted on OpenSea last November has already generated 4,412 ETH in volume. The collection acts as an early access pass, providing holders with a range of exclusive benefits.
L3E7 plans to use the fresh capital to fortify its brand presence, elevate game development endeavours and tap into the burgeoning web3 market by leveraging the distinctive appeal of LBS games, the company said in a statement on Friday.
L3E7’s player-versus-environment platform allows players to seize iconic real-world landmarks, accruing rewards based on their damage rankings, alongside robust team dynamics and social interactions.
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