Web3 Gaming Platform Project Twelve Closes $8 Million Funding Round
Project Twelve (P12), a Web3 gaming platform, announced on Tuesday the close of $8 million in new funding, paving the way for an expanded ecosystem with an accessible and sustainable game creation platform.
This funding round comes from a combination of committed investors, including: MetaApp, Project Galaxy, Primavera Ventures, CyberConnect, CCV, InfinityLeague, Smrti Lab, and others.
P12 features the Editor, a full-featured Metaverse content engine for building game worlds; the Infra, a set of API/SDK and developer portals for bridging game content on-chain; and the Econs, a set of economic and governmental rules and mechanisms implemented in EVM smart contracts.
In recognizing an impending paradigm shift for virtual assets, the P12 team set out to do away with obstacles that have historically minimized the impact of virtual worlds and experiences. Removing the flawed, for-profit model, P12 aims to better serve the user, making way for limitless possibilities within the realm of virtual worlds.
To tackle key challenges affecting the Web3 gaming industry, P12 will build a complete infrastructure and tooling system to make game creation accessible and implement a set of economic and governmental mechanisms to make game economies more sustainable.
The team behind P12 comes from a hybrid Web3 and gaming background while many have also been involved in the blockchain and cryptocurrency space since 2018 and have successfully built a decentralized exchange (DEX) product. They also have a proven track record in R&D and building gaming products.
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P12 is now inviting interested individuals to collect the recently launched Genesis Soul-Bound NFT – the ultimate tribute to Developers & Gamers – from their airdrop site and to invite others to do the same via the company’s referral program. Officially launched on June 27, the Genesis Soul-Bound NFT pays homage to Steam developers and gamers by capturing off-chain credentials, including games published and hours played. In doing so, the set of valuable proof-of-play data will entitle NFT holders to future rights and benefits.