Neal Stephenson’s Layer 1 blockchain startup, Lamina1, has created the Lamina1 Ecosystem Fund (L1EF) on the AngelList marketplace for startups and investors.

Co-founded by crypto industry veteran Peter Vessenes, the business aspires to use blockchain technology to hasten the arrival of the metaverse (a concept created by Stephenson in his 1992 book Snow Crash). In addition, in February, it will host the Open Metaverse Conference.

The purpose of the new fund is twofold: first, it gives accredited investors around the world a way to invest in early-stage Layer 1 projects that were previously unavailable to them; second, it gives Web3 developers a way to raise money for their open metaverse projects before they go live on mainnet.

Both investors and contractors may start the application process right now. The testnet for Lamina1, which has been under development for a while, will go live not long after the fund does.

“Lamina1 is in a unique position given the incredible volume of inquiries we receive from those building the Open Metaverse every day,” said Vessenes. “The team has a front row seat to all happening in the ecosystem and essentially gets a ‘first look’ at what many of the most compelling creators and storytellers of our time are doing, building, making, and producing around the world. We want to share that front row seat with as many people as possible.”

L1EF, founded by Lamina1 and Vessenes, targets worldwide accredited investors who are interested in funding the internet’s future generation. Vessenes has vast experience starting, running, and advising extremely innovative startups in the Web3 domain, with its roots in digital currency, tokenization, and blockchain technology.

Vessenes has been the first chairman of the Bitcoin foundation, started the first Bitcoin business supported by venture capital, started his family office Capital6, started an early-stage venture capital firm called Capital6 Eagle, and started a blockchain startup called Lamina1.

Using Vessenes’s unmatched skill in building decentralised economies, L1EF will provide investors a chance to pioneer the new Open Metaverse economy with him.

With “an extraordinary amount of enquiries we get from individuals constructing the Open Metaverse every day,” Lamina1 is in a unique position, Vessenes stated. It’s like the team is getting a “first peek” at the work of some of the most interesting and influential artists and storytellers of our day while they work on projects all across the globe. We’d want to provide as many people as possible a front-row seat to this.”

Rebecca Barkin, whose resume includes stints at EMI-Capitol Records, Magic Leap, and MSG Sphere, is only one of the Lamina1 leaders; others include Christine Keung, a fellow at the Aspen Institute, and Jessica Toon, a veteran of the arts and music industries.

Accredited investors may participate in the L1EF fund by subscribing to it on a quarterly basis, at which point they will have access to information about the fund’s current investment opportunities. The Open Metaverse is where a wide variety of technologies and experiences, from immersive computing to open AI at scale, will be available to consumers.

To help bring Lamina1’s vision of an open metaverse to life, L1EF is investing in builders and creators who will develop the high-quality technology and infrastructure required to support the protocol and design the compelling content that will draw users in. Layer 2 protocols, DeFi, GameFi, markets, bridges, and a great many more all fall under the category of early stage initiatives.

“We are excited to create L1EF to assist artists and investors who are actively encouraging the creation of an Open Metaverse,” stated Barkin, president of Lamina1. In Peter’s words, “his strategy to giving builders early access to cash — just as we’re ready to put testnet in their hands — is in perfect accord with our objective to develop the open infrastructure that brings together the most powerful creative community on the globe.”

AngelList users may invest right now in the fund.

In addition to financial backing, L1EF projects will have access to Lamina1 Early Access and assistance for Lamina1 developer tools.

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