Riot Games Alum Raises Millions for Web3 Studio Battlebound

Harri Weber

Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

 A teaser for an upcoming game at web3 studio​ Battlebound
Courtesy of Battlebound

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Battlebound, the stealth gaming startup behind the anonymously launched Web3 game Evaverse, has raised more than $4.8 million in funding and is gearing up to bring its first title to mobile devices, dot.LA has learned.

Backed by at least 14 unnamed investors, according to a filing with the SEC, the Los Angeles-based company is led by founder and CEO Adam Hensel, a former Riot Games technical artist known pseudonymously as Damos. Battlebound’s team also includes former Riot Games concept artist David Ko, per Ko’s Twitter account.


While little else is known about the gaming startup’s founding team, a teaser page shows that they’ve previously worked on titles such as Riot’s “League of Legends,” ArenaNet’s “Guild Wars,” Blizzard’s “Overwatch 2” and Rovio’s “Angry Birds.”

An “Evaverse” character spins a machine for a potential prize.Courtesy of Battlebound

Evaverse, which Battlebound has dubbed a “best in class play-to-earn wonderland,” is part of a wave of blockchain games that reward players with crypto tokens and use NFTs as playable characters. The priciest Evaverse NFT—a bald, magenta-bearded, Thanos-esque character named Yolo McSwagginz—is listed on the NFT marketplace OpenSea for 120 Ethereum, or more than $348,000 as of press time.

Battlebound has described Evaverse as being built for a community of “blockchain players, traditional gamers, and NFT collectors” alike. The game is currently available on both PC and Mac via the Steam gaming platform, while its Discord community features more than 7,000 members.

Though new blockchain gaming entrants like Battlebound and L.A-based Artie seem to launch on a weekly basis, last year the NFT gaming scene was largely dominated by one particular title: “Axie Infinity,” which was launched by Vietnamese studio Sky Mavis in 2018 and reportedly accounted for nearly two-thirds of all gaming NFT transactions last year.

Representatives for Battlebound declined to comment.

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Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

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David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian Stock Roller Coaster Continues as Amazon Van Delivery Faces Delays
Courtesy of Rivian.

Rivian’s stock lost 7% yesterday on the back of news that the company could face delays in fulfilling Amazon’s order for a fleet of electric delivery vans due to legal issues with a supplier. The electric vehicle maker is suing Commercial Vehicle Group (CVG) over a pricing dispute related to the seats that the supplier promised, according to the Wall Street Journal.

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