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Web3 Studio Sortium Raises $7.8M in Seed Round

Sortium, a developer of Web3 entertainment technology, has raised $7.75 million in a seed round with crypto hedge fund Arca among the investors. Web3 infrastructure advancements are widely seen as key to bringing more people and brands into the crypto industry.

The funding was revealed in a filing with the U.S. Securities and Exchange Commission (SEC) and the details, including Arca's participation, were confirmed by Sortium CEO Marc Seal in an interview with CoinDesk. Seal didn’t specify who the other investors were, but said the group included other crypto-native firms.

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