Community Gaming, the premier all-in-one global earnings platform and competitive organizer, announced April 7th the closing of its oversubscribed Series A at $16 million. The funding round was led by SoftBank Group via its SB Opportunity Fund, with participation from Animoca Brands, Binance Labs, BITKRAFT Ventures, and Griffin Gaming Partners. Additional investors span multiple sectors, including CoinFund, Hashed, Multicoin Capital, Shima Capital, Polygon Studios, and ConsenSys Mesh. Angel investors include Axie Infinity co-founder Jeff Zirlin, and Gabby Dizon, co-founder of Yield Guild Games.
As a result of the Series A, Community Gaming will expand both its global footprint and platform offerings. The major platform update expected later this year will allow users to earn supplemental income on the blockchain through gamified “Quests” within the Community Gaming system. This “Earnings for Everyone” approach enables Community Gaming to reward users for action and time with the platform instead of focusing on only the most skilled in competition.
“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,” said Chris Gonsalves, CEO of Community Gaming. “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.”
Community Gaming will use this capital injection to grow operations in Latin America and Southeast Asia. The expansion brings economic benefits to underserved regions within the two markets through job creation, local business engagement, and flagship competitive events. At the outset, events will focus on underserved demographics as a way to introduce gaming to a wider audience.
Additionally, Community Gaming will donate a portion of the funding to its Play2Earn foundation. The nonprofit supports the grassroots growth of gaming for low income individuals and communities around the world by providing grants to competitive organizers. To date, the P2E foundation has provided over $100,000 in grants.
(All information was provided by The Story Mob)