Independent Games Studio Third Time Raises $3.5 Million in Seed Funding to Build Bridge From Free-to-Play Into Web3
Financing Led by LVP, with Participation from Reciprocal Ventures, Coinbase Ventures to Help Grow Portfolio and Team
ORLANDO, Fla.–(BUSINESS WIRE)–Acclaimed independent games studio Third Time Entertainment, Inc. has raised $3.5 million in seed funding to develop mobile and browser-based blockchain games. The financing was led by games sector expert LVP, with additional funding by Reciprocal Ventures, Coinbase Ventures, 6th Man Ventures, Folius Ventures, Big Brain Holdings and Maven Capital. Founded by former Madden NFL Creative Director Ian Cummings and former EA SPORTS, FanDuel and Zynga veteran developers Paul Fleetwood and Brian Fleming, Third Time will utilize the funding to grow 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.”
Third Time 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.
“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.”
Photo Finish Live, the spiritual successor to the team’s prior mobile horse racing games, is on track to be the fastest growing and most authentic horse racing game in history – now with an ecosystem built on the blockchain. Later this year, players will be able to earn, breed, buy, sell, train and auction their NFT horses on the open marketplace. Just as in real-life, races can be affected by the horses’ strengths and weaknesses, weather, track conditions, distances and a variety of other factors. Photo Finish Live will also house two native fungible tokens, $CROWN & $DERBY, that drive all interactions in-game and can be traded on exchanges.
The Suites is an exclusive sports-themed metaverse of virtual social spaces. Suite owners can invite their friends and join other fans to hang out, watch live streams of their favorite sports, esports and events, and take part in live competitions. Suites can also be customized with games and contests, giving fans the ability to earn real prizes and $SUITE tokens. The Suites recreates the feeling of attending a special event in an exclusive private space and empowers brands and partners with an opportunity to reach new customers inside the metaverse. This product will become a launchpad to create and monetize differentiated content, unique gatherings and experiences for fans, athletes, celebrities, and brands alike.
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About Third Time Entertainment, Inc.
Third Time is a video game development studio in Orlando, FL, focused primarily on building games in the Web3 space. Founded in 2015 by EA Sports / Zynga / FanDuel veteran developer Ian Cummings, Third Time has built two of the most popular horse racing games in history (with over 13 million downloads to date), created simulations for NBC live Triple Crown broadcasts, and announced two of the most highly anticipated NFT projects on the Solana blockchain in 2022. To learn more, visit thirdtimegames.com.
LVP is an early stage fund with a valuable difference: the partners are operating experts in the games ecosystem and team have been seed investors in game companies that have created over $30 billion in value through exits including Supercell, Unity, Playfish and NaturalMotion. LVP are investors in many other great games companies including Singularity 6, AppOnboard, Bunch, Robin Games, Betadwarf and many others. To learn more about LVP, visit http://www.londonvp.com.
fortyseven communications for Third Time