Community Gaming, a gaming startup in the esports industry, revealed the completion of a seed round for $2.3 million. The fundraising was led by CoinFund, an investment fund focused on blockchain projects and other top crypto investors, including Dapper Labs, Animoca Brands, Multicoin Capital, 1kx, Warburg Serres, and Hashed.
Other investors included Kevin Durant’s and Rich Kleiman’s Thirty-Five Ventures, Marc Pincus’s WorkPlay Ventures, Play Ventures, WhaleShark, GenG Esports, and Rally Network founder Kevin Chou. The seed investment round follows a pre-seed investment by ConsenSys.
Automating Esports Tournaments
Community Gaming is focused on automating the organisation of esports tournaments and ensuring seamless payments.
Community gaming provides a unified tournament experience and distributes the rewards using state of the art technology. Community Gaming’s founders were inspired to start the project after hosting LAN tournaments in New York City for two years starting in 2017. The team experienced challenges faced in producing community-level gaming tournaments, like delayed payments and complicated tournament software. Community gaming was created to resolve such issues and was launched end of 2019.
Leveraging distributed ledger technology
Community Gaming services include prompt player payments aided by distributed ledger technology, tournament bracket management, and web application for registration.
The firm developed systems that integrate credit cards and fiat to crypto payments making the whole experience effortless and beginner-friendly. Tournament organisers can easily create a tournament using the platform.
Community gaming automatically manages the bracket for the organisers who delegate the tournament format, rules and payment methods. Participants can also form their community gaming accounts or wallets that they can manage and join active tournaments. Tournaments can now be created on the Ethereum main net, polygon and Binance Smart chain with low fees of under a penny. When the tournament is over, payouts are sent out immediately to the winner’s wallets.
Chris Gonsalves, Community Gaming’s, CEO said:
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.
Jake Brukhman, CoinFund’s CEO and Founder stated:
Community Gaming has created a valuable platform for esports that enables the community to thrive. The team has taken the world’s renewed interest in gaming to new heights and improved on challenges facing online gaming. We are eager to support their continued success in making esports tournaments seamless and enjoyable.
What is Community Gaming?
Community Gaming is an all-inclusive platform that offers E-sports infrastructure to all key industry players. Through its flawless UX and highly complex blockchain payment technology, the platform provides game developers, players, and organisers with the required tools to create, facilitate, and participate in E-sport tournaments.