L3E7, a 3D location-based (LBS) game studio, has secured a total of $10 million in funding across two separate rounds in 2022 and 2023. This influx of capital is set to propel the studio's ambitious plans to revolutionize the gaming experience by seamlessly blending the virtual and physical worlds.

The funding journey commenced with an angel round led by LongLing Capital, followed by a Series A financing spearheaded by Spartan Group and SevenX Ventures. Notably, the investment rounds attracted a diverse array of prominent investors, including Dingaling, Grail, Cristian, Skyline, Sam, Web3honey, and Elthen from the angel side, as well as Foresight Ventures, OKX Ventures, Big Brain Holdings, Vertex Ventures, Comma3 Ventures, Buzzone, Meta Labs, Giantwood, Marvellous Creature, Mantle EcoFund, BitValue, Hailstone Labs, LiquidX, and Buzzone. The studio chose not to disclose the valuation at which the funds were raised.

Alongside the funding announcement, L3E7 revealed that hundreds of builders are already participating in the first testing phase of their ambitious project. The core team, comprised of seasoned AAA gaming veterans, is leveraging proprietary technology in conjunction with data obtained from Google Maps to create a captivating cyberpunk 3D Earth City game.

The game's native NFT collection, which serves as an early access pass granting holders a range of exclusive perks, has already generated an impressive 4,412 ETH since its debut on OpenSea in November. This early success underscores the project's potential to resonate with the web3 gaming community.

In a recent announcement, L3E7 stated that the newly raised funds will be allocated towards strengthening the brand, enhancing game development efforts, and capitalizing on the growing web3 market by leveraging the unique appeal of LBS games.

At the heart of L3E7's vision is a player-versus-environment (PvE) platform that allows players to take control of real-life landmarks and earn rewards based on their damage rankings. This innovative concept not only offers an immersive gaming experience but also fosters strong team dynamics and social connections, further enhancing the overall appeal of the project.

As the web3 gaming landscape continues to evolve, L3E7's successful funding rounds and ambitious plans position the studio as a potential frontrunner in the race to redefine the gaming industry. With the support of prominent investors and a talented team of gaming veterans, L3E7 is poised to push the boundaries of what's possible in the realm of location-based gaming, ushering in a new era of seamless integration between the virtual and physical worlds.