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.

Edited by Stephen Alpher.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.