Blockchain esports platform Community Gaming has raised a $2.3 million seed round.
The US company will use the funds to expand its business into Latin America and South East Asia.
Investors included CoinFund, Dapper Labs, Animoca Brands, Play Ventures and Hashed.
Other significant participants included Kevin Durant’s Thirty Five Ventures, Mark Pincus’ WorkPlay Ventures, WhaleShark and Forte’s Kevin Chou.
Any game, rewards on the blockchain
Originally funded by Consensys and launched in 2019, Community Gaming enables the creation of esport tournaments for any type of game using blockchain to streamline the payout of rewards.
It includes credit card integration so people don’t need to create crypto wallets although it supports wallets such as Metamask for experienced users. Users can also cash out their crypto to purchase gift cards.
Currently, tournaments can be deployed on Ethereum, Binance Smart Chain and Polygon with fees as low as 1/50 of a penny. Payouts are automatically sent to the winners’ connected wallets at the conclusion of the tournament.
“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.” said Community Gaming’s CEO Chris Gonsalves.
You can check out Community Gaming via its website.