Project Twelve Secures $8 Million in Funding Round to Facilitate the Expansion of its Ecosystem
The emerging Web3 gaming project has secured $8 million to support the growth of its ecosystem.
Project Twelve (P12) has announced that it has raised $8 million in a funding round. The funding will help facilitate the expansion of its ecosystem and the development of an accessible and sustainable game platform. The funding round involved a group of investors, namely MetaApp, Project Galaxy, Primavera Ventures, CyberConnect, CCV, InfinityLeague, and Smrti Lab, among many others.
P12 comprises three major aspects, namely; the Editor, a 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 series of implemented economic and governmental rules and mechanisms.
P12 is ready to provide solutions to the obstacles that undervalue the impact of the virtual world and its experiences by providing a fundamental transformation for virtual assets. The team aims to serve users better and provide a virtual world with limitless possibilities removing the flawed, profiteering model.
To further tackle the challenges of the Web3 gaming industry, P12 will build a well-equipped infrastructure and tooling system to make game creation accessible and game economies more sustainable.
The squad behind the development of P12 come from a hybrid Web3 and gaming background. The team debuted in the blockchain and cryptocurrency space in 2018 and has successfully built a DEX product. They have a proven track record in R&D and building gaming products.
The Founder of P12, Boyang, commented:
“P12 was conceptualized by a group of hardcore gamers who have a deep passion for and great faith in gaming. While serving the gaming industry, we also identified key challenges facing the future of gaming - that is insufficient supply and broken economies. Now, we see a solution to the challenges in combining the best of Web3 and gaming; that solution is P12.”