Community Gaming raises $16 million to expand its platform and rewards system

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

Community Gaming’s platform allows anyone to host 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 will allow users to monetize the blockchain. The “Revenue for All” reward system would operate through “Quests” that would “reward users for action and time with the platform rather than focusing on just 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 presents us with a great opportunity to lead the growing conversation about gaming in web3. These resources will allow us to to further support ‘Earnings for Everyone’ systems that reward action and time, reimagining the social contract of work as people look for new ways to create additional income through gaming.”

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This post Community Gaming raises $16 million to expand its platform and rewards system

was original published at “https://venturebeat.com/2022/04/07/community-gaming-raises-16m-to-expand-its-platform-and-reward-system/”