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.

Third Time is a video game development studio 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.