Community Gaming operates an esports tournament platform that manages brackets once the organizer decides the format, rules, and payout methods. It uses blockchain technology to distribute player rewards and can create digital crypto wallets to facilitate the movement of cash in and out of player accounts. As of July 2021, the company has hosted more than 200 local events and over 300 esports tournaments and it is running 15 USD 1,000 tournaments each month. The company generates revenue via sponsorships from Facebook and partnering blockchain companies (e.g Horizon Blockchain Games, Polygon, Consensys).
Community Gaming has raised USD 16 million in a Series A funding round in April 2022 led by SoftBank Group (via its SB Opportunity Fund), with participation from Animoca Brands, Binance Labs, BITKRAFT Ventures, and Griffin Gaming Partners. The fresh funds will be utilized to expand its platform and introduce a new rewards system. The round followed its USD 2.3 million seed funding round in July 2021 .
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