Community Gaming Receives $2.3M in Seed Funding!
The entire team at Community Gaming is excited to announce the successful closing of our $2.3 million dollar seed round led by CoinFund! The following major crypto ecosystem players also participated: Animoca Brands, Multicoin Capital, 1kx, Dapper Labs, Warburg Serres, Signum Growth Capital, Hashed, Kevin Durant’s and Rich Kleiman’s Thirty Five Ventures, Mark Pincus’s WorkPlay Ventures, and Play Ventures. Several prominent angel investors also joined the round including WhaleShark and GenG Esports and Rally Network founder Kevin Chou. This follows our pre-seed round led by ConsenSys in summer of 2020.
Future of Community Gaming
This additional funding will enable us to accelerate our ongoing expansion into Latin America and South East Asia where we’re already seeing massive growth from grassroots organizers and talented competitors. In addition to our NA Twitch channel, we’ll be creating new channels to stream tournaments for LatAm and SEA communities. We also have a number of job openings which you can check out here.
The Community Gaming platform is becoming a bridge between the esports and blockchain communities by creating the first comprehensive, blockchain-enabled payment solution built for competitive gaming. We’re proud to be introducing blockchain payment tech to thousands of gamers each month, most of which have never created a wallet or owned an NFT before.
“We are excited to have obtained support from major players in both the blockchain and gaming industries as we seek to bring web3 payment technology to millions of gamers worldwide and help accelerate the shift towards Play2Earn gaming ecosystems.” said Chris Gonsalves, CEO of Community Gaming.
New Features
In addition to the new check-in system launched this month, we’ve also updated the earnings leaderboard visually and added filters for game, country, and token. Later this month we’ll be introducing new tournament formats, first with Battle Royale scoring and then followed by Swiss.
We’ll also be launching our Rewards Program this quarter which will enable engaged users to increase their earnings potential beyond just placing highly in tournaments by completing weekly quests. Community Gaming is a firm believer in the Play2Earn philosophy and supports the idea that active and engaged community members deserve more rewards. The recent investment will allow for rapid development of this program as well as more complex smart contracts for league play.
Becoming an Organizer
If you’ve been competing in our tournaments weekly and want to start creating your own custom ones for your community then apply here! Once approved, it takes less than 5 minutes to create your first tournament with automated crypto payouts. Due to an increased number of applications recently, we’ll be accepting new organizers once every 2 weeks so keep an eye out for an email from us.
We currently support tournament deployment into the Ethereum Mainnet, Binance Smart Chain, Polygon or off-chain using PayPal. All major tokens and USD stablecoins are supported for automated tournaments! Sending out dozens of pre-configured payments comes with transaction fees as low as 1/50 of a penny! Learn more about Polygon tournaments in our recent blog post and our partnership with CryptoRefills where you can spend your Polygon-powered tournament earnings on a variety of gift cards.If you’d like to learn more about the platform then head to our FAQ section or reach out to us in our Discord. We have a lot in the works and many new platform features coming your way, so keep your eyes peeled and be sure to follow us on Twitter and create an account to join our newsletter!
Read the full press release here
Originally published at https://blog.communitygaming.io on July 1, 2021.
