Blockchain esports platform Community Gaming has bagged US$2.3 million in seed funding. The round was led by investment firm CoinFund. Dapper Labs, Animoca Brands, Play Ventures, and Multicoin Capital are some of the notable investors who participated in the round.
“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,” Community Gaming CEO Chris Gonsalves said in a blog post.
Community Gaming’s future plans
Community Gaming stated that it will use the fresh funds to further expand into Latin America and South East Asia markets. Here, they are looking to create new channels to stream tournaments for the communities.
In addition, the startup will be soon introducing new tournament formats and a rewards program. The program will allow users to increase their earnings by completing weekly tasks. The company said that it will use the latest investment to rapidly develop this program. It will also use the funds to develop more complex smart contracts for league play.
Founded in 2017, Community Gaming allows anyone to organize esports tournaments on its platform. Its blockchain-based platform allows instantaneous reward payouts through ERC-20 tokens.
“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,” the startup wrote on its blog.
The platform has also added a slew of new features. This includes a new check-in system as well as the updated earnings leaderboard.
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