Categories: Technology

Community Gaming raises $16M to expand its platform and reward system

[ad_1]

GamesBeat Summit 2022 returns with its largest event for leaders in gaming on April 26-28th. Reserve your spot here!


Community Gaming announced that it has raised $16 million in its latest round of funding. It plans to use this funding to expand its esports organization platform as well as its new “Earnings for Everyone” reward system.

Community Gaming’s platform allows anyone to organize their own esports tournaments with blockchain-based contracts. Earlier this year, Community reached 100,000 users on its platform. The company is working on a major update that would allow users to earn income on the blockchain. Its “Earnings for Everyone” reward system would work through “Quests” that would “reward users for action and time with the platform instead of focusing on only the most skilled in competition.”

SoftBank Group’s SB Opportunity Fund led the round, with participation from Animoca Brands, Binance Labs, Bitkraft Ventures and Griffin Gaming Partners. Additional investors include CoinFund, Hashed, Multicoin Capital, Shima Capital, Polygon Studios, and others.

Chris Gonsalves, CEO of Community Gaming, said in a statement, “Community Gaming’s position at the intersection of esports and blockchain technology grants us a tremendous opportunity to lead the growing conversation around gaming in web3. These resources will allow us to further support ‘Earnings for Everyone’ systems that reward action and time, a re-imagining of the social contract of work as people look for new ways to create supplemental income through gaming.”

GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Learn more about membership.

[ad_2]
Source link
Admin

Recent Posts

Choosing the Perfect Kitchen Cabinets in Toronto

Hey there, Toronto homeowners! If you're diving into a kitchen renovation, one of the most…

7 hours ago

Kijangwin is the latest online video gaming provider

Kijangwin is your brand-new go-to destination for all things internet gaming. Whether you're an informal…

3 days ago

How to Style Trendy Clothes Effortlessly

Hey there, fashion enthusiasts! Are you ready to dive into the world of trendy clothes…

3 days ago

How to effectively recover your frozen/stolen funds from fraudulent platforms

Hey there! If you're reading this, there's a good chance you've found yourself in the…

4 days ago

Important things about Core 2 . 0 regarding Hemp Users

Hey there, hemp enthusiasts! If you've been on the hunt for the next big thing…

6 days ago

Exploring the Features and Benefits of Strio

Hey there! Have you ever found yourself tangled up in the world of communication and…

1 week ago