Web3 Gaming Company Saltwater Raises $5.5M Seed Funding

Web3 gaming company Saltwater Games has raised $5.5 million in seed funding as it looks to expand its operations and its technology stack.

Saltwater closed its seed round on the heels of acquiring gaming developers Maze Theory, Nexus Labs and Quantum Interactive, which have Doctor Who and Peaky Blinders games among their portfolios.

The funding round was led by crypto investment firms Deus X and Fourth Revolution Capital (4RC), according to an emailed announcement shared with CoinDesk on Thursday.

Tim Grant, CEO of Deus X and former head of EMA for digital asset financial services firm Galaxy Digital, will become Saltwater’s chairman as part of the deal. Deux X launched last October with family office backing and $1 billion in assets.

Saltwater plans to use the funding to increase headcount, invest in new technology and expands its operations into new territories.

Read More: Web3 Attribution Platform Spindl Teams Up With AppsFlyer to Improve Blockchain Gaming Analytics

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