Independent game studio Third Time Entertainment has raised $3.5 million in a seed funding round led by LVP, with Reciprocal Ventures, Coinbase Ventures, 6th Man Ventures, Folius Ventures, Big Brain Holdings and Maven Capital also participating.
The studio plans to use the funding to expand the team and its portfolio of games, built specifically for players to earn rewards as they play.
“Being able to give our players a sense of ownership is a huge step for our community,” said Ian Cummings, founder and CEO, Third Time. “One key element that has been missing from blockchain games is fun gameplay – we find it mission-critical to develop an ecosystem built for gamers that rewards them in multiple ways, adding value to their NFT collections and giving them the chance to earn on the open marketplace.”
Based in Orlando, FL, Third Time was founded by Ian Cummings, Paul Fleetwood and Brian Fleming. The studio has built an expansive player community with the realistic horse racing simulator Photo Finish and the sports-themed social hub The Suites, with multiple sets of NFTs (Stylish Studs, Fine Fillies and The Suites) already being traded amongst the top collections on the Solana ecosystem.
The studio’s two popular horse racing games have generated over 13 million downloads to date.
“Third Time is uniquely placed to deliver engaging and immersive experiences for sports fans, matching web2 quality with the functionality of a decentralized economy,” said Harry Hamer, Investor, LVP. “Ian, Paul and Brian draw upon decades of experience in game development across mobile, social and player-driven trends, and know their genre intimately having produced some of the leading games in horse racing and sports. Their vision of building a sustainable yet rewarding economy for players – aided by their deep free-to-play expertise – instantly chimed with us.”