- Saltwater Games, a Web3 gaming company, raises $5.5 million in seed funding following the acquisition of gaming developers Maze Theory, Nexus Labs, and Quantum Interactive.
- The funding round, led by Deus X and Fourth Revolution Capital, will be used for increasing headcount, investing in new technology, and expanding operations globally.
In a strategic move to reinforce its position in the burgeoning Web3 gaming sector, Saltwater Games has successfully closed a $5.5 million seed funding round. This milestone comes on the heels of its recent acquisitions of gaming developers Maze Theory, Nexus Labs, and Quantum Interactive, known for their work on Doctor Who and Peaky Blinders games.
Expanding the Web3 Gaming Landscape
Saltwater’s funding round was spearheaded by prominent crypto investment firms Deus X and Fourth Revolution Capital (4RC). This infusion of capital is set to catalyze Saltwater’s growth, enabling the company to extend its technological capabilities and enhance its operational reach.
As part of the funding agreement, Tim Grant, CEO of Deus X and former head of EMA at Galaxy Digital, a digital asset financial services firm, will assume the role of Saltwater’s chairman. Deus X, which launched last October with family office backing and assets totaling $1 billion, brings significant financial and strategic expertise to the table.
Strategic Use of Funding for Growth and Innovation
With the newly secured funds, Saltwater plans to significantly ramp up its operations. The primary focus areas include increasing its headcount, which is vital for supporting the company’s expansion plans and fostering innovation within its product offerings. Additionally, substantial investments are earmarked for advancing Saltwater’s technology stack, a critical component in maintaining a competitive edge in the fast-evolving Web3 gaming sector.
Furthermore, Saltwater aims to broaden its operational footprint, venturing into new territories. This geographical expansion is not just about reaching new markets but also about tapping into diverse talent pools and user bases, thereby enriching the gaming experiences they offer.
Saltwater’s recent seed funding round marks a pivotal moment in the company’s journey. It not only bolsters its financial resources but also aligns it with influential partners in the crypto and gaming industries. As Saltwater embarks on this next phase of growth, it is well-positioned to make a significant impact in the Web3 gaming space, shaping the future of gaming with blockchain technology at its core.