LOS ANGELES--(BUSINESS WIRE)--Lamina1, the Layer 1 blockchain optimized for the Open Metaverse and its projected multi-trillion dollar economy, is launching the Lamina1 Ecosystem Fund (L1EF) on venture platform AngelList. The first-of-its-kind fund serves two goals: to offer global accredited investors a way to gain direct investment access to early stage Layer 1 projects not previously accessible to the general public, and to provide Web3 builders a vehicle for raising capital for their Open Metaverse ventures prior to mainnet. Investors and builders can both apply to participate immediately. The fund launch will be closely followed by the much-anticipated launch of Lamina1’s testnet.
Led by Lamina1 co-founder and crypto pioneer Peter Vessenes, L1EF is designed to provide broad economic access to global accredited investors looking to support the next era of the internet. With deep roots in digital currency, tokenization, and blockchain technology, Vessenes remains an industry leader with extensive experience launching, leading, and advising highly-disruptive companies in the web3 space. To date, Vessenes has transformed the blockchain ecosystem as the first Chairman of the Bitcoin foundation, founder of the first VC-backed Bitcoin company, founder of his family office Capital6, co-founder of the early-stage venture capital firm Capital6 Eagle, and co-founder of Lamina1. L1EF will capitalize on Vessenes’ unique expertise of fostering decentralized economies by offering investors a chance to join him at the forefront of the emerging Open Metaverse economy.
“Lamina1 is in a unique position given the incredible volume of inquiries we receive from those building the Open Metaverse every day,” said Peter Vessenes, Co-Founder of Lamina1. “The team has a front row seat to all happening in the ecosystem and essentially gets a ‘first look’ at what many of the most compelling creators and storytellers of our time are doing, building, making, and producing around the world. We want to share that front row seat with as many people as possible.”
Accompanying Vessenes are L1EF partners Neal Stephenson, renowned futurist and author who originally coined the term “Metaverse” in his 1992 book Snow Crash; Lamina1 President, Rebecca Barkin, whose entertainment and technology career spans EMI-Capitol Records, Magic Leap, and MSG Sphere; Aspen Institute Fellow, Christine Keung; and career arts and music industry executive, Jessica Toon.
The L1EF fund works by allowing accredited investors to access and co-invest in companies and entrepreneurs through quarterly subscriptions. Investments will be largely focused on the technology and experiences users can access in the Open Metaverse, ranging from immersive computing to open AI at scale.
To support the rapid advancement and expansion of the Open Metaverse, L1EF is simultaneously focused on investing in builders and creators who will foster the quality tech and infrastructure necessary to support the protocol, and create immersive experiences that bring Lamina1’s vision of an Open Metaverse to life. Some of these early stage projects include layer 2 protocols, DeFi, GameFi, marketplaces, bridges, and many more.
“We’re thrilled to introduce L1EF to serve both creators and investors who are actively promoting the development of an Open Metaverse,” said Rebecca Barkin, President of Lamina1. “Peter has a deep understanding and demonstrated success of growing economies around a chain, and his approach to grant builders early access to capital - right as we’re preparing to place testnet in their hands - is in perfect alignment with our mission to build the open infrastructure that brings together the most powerful creative community on the planet.”
The fund is available for immediate investment on AngelList. Metaverse builders and creators can also apply for funding by visiting lamina1.com/ecosystem.
In addition to capital, projects that are part of L1EF will receive early access 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 hello@l1ef.com.
About Lamina1
Lamina1 is a Layer 1 blockchain optimized for the Open Metaverse. The brainchild of legendary futurist Neal Stephenson (who first conceptualized the term “Metaverse” in his 1992 best-selling novel Snow Crash) and Peter Vessenes, a foundational leader in the crypto space from the early days of Bitcoin – Lamina1 is on a mission to deliver the blockchain technology, interoperating tools, and decentralized services that will establish it as the preferred destination for creators building a more immersive Internet. It is the first provably carbon-negative blockchain in the world.
About the Lamina1 Ecosystem Fund (L1EF)
The Lamina1 Ecosystem Fund (L1EF) is the world’s first publicly accessible Layer 1 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.
Disclaimers
The securities described herein have not been registered under the Securities Act of 1933, as amended, or the securities laws of any state or any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements thereunder. There are further restrictions on the transferability of such securities. An investment in the fund involves a high degree of risk and is inherently illiquid, and should be considered only by persons who can bear the risk of the loss of their entire investment. The readers should not rely on any information in this press release as investment or tax advice or as a recommendation to make an investment in the fund.
The information contained herein is provided for informational and discussion purposes only and is not intended to be a recommendation for any investment, service, product, or other advice of any kind, and shall not constitute or imply an offer of any kind. Any investment opportunities and/or products or services shown here will only be completed pursuant to and be subject to the formal offering materials, a letter of intent, and/or any other agreements as determined by AngelList and/or the fund containing full details regarding terms, risks, minimum investment, fees, and expenses of such transaction, the terms of which are subject to change without notice. Past performance is not indicative of future results and does not guarantee future returns, and readers should not assume that the investments and/or the fund described herein were or will be profitable.
