Lamina1 Launches Web3 Fund for the Open Metaverse

Lamina1 Launches Web3 Fund for the Open Metaverse

The metaverse-focused layer 1 blockchain, Lamina1, is launching the Lamina1 Ecosystem Fund (L1EF) to enable advancements in developing the open metaverse, as announced via Twitter this afternoon. The fund has launched on AngelList, a venture platform that allows startups to raise money from angel investors through rolling funds.

The L1EF describes itself as the first publicly accessible ecosystem fund of its kind and is designed to provide "broad economic access" to global accredited investors who want to support the next era of the internet. The fund is focused on supporting projects utilizing the Lamina1 blockchain to build infrastructure, protocols, metaverse applications and experiences, and more.

"Layer 1 teams build infrastructure and in turn experience creators utilize that infrastructure," the Lamina1 team shared in their launch announcement. "Ecosystem funds bridge the gap between the two, providing capital, talent, and advisory to those who wish to use the chain. In exchange, these funds have the privilege of being able to make broad-scale investments in the earliest stage of a blockchain’s lifecycle."

Soon the team will launch an Early Access Program, providing priority access to Lamina1 testnets, developer kits, APIs, wallets, browsers, and more. The program will serve as a trial run for the fund, allowing early participants to work with fund leadership and provide feedback on its development. 

Lamina1 Leadership and Vision

Lamina1 was designed and created by science-fiction author Neal Stephenson in partnership with blockchain expert Peter Vessenes, and it will be Vessenes leading the fund. In addition to Vessenes, the project has brought on former Magic Leap executive Rebecca Barkin as its president, music industry and arts executive Jessica Toon to lead its music investments, and Aspen Institute Fellow Christine Keung.

In a letter to investors, Vessenes shared that he hopes the fund can help Lamina in its broader goals of creating an open metaverse by delivering economic access as broadly as possible. The fund plans to invest in a variety of areas, including games, fashion, music, art, NFT projects, emergent AI, DeFi, GameFi,  and much more.

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