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

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.”