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Group Gaming introduced that it has raised $16 million in its newest spherical of funding. It plans to make use of this funding to develop its esports group platform in addition to its new “Earnings for Everybody” reward system.
Group Gaming’s platform permits anybody to prepare their very own esports tournaments with blockchain-based contracts. Earlier this 12 months, Group reached 100,000 customers on its platform. The corporate is engaged on a serious replace that will permit customers to earn earnings on the blockchain. Its “Earnings for Everybody” reward system would work by “Quests” that will “reward customers for motion and time with the platform as a substitute of specializing in solely probably the most expert in competitors.”
SoftBank Group’s SB Alternative Fund led the spherical, with participation from Animoca Manufacturers, Binance Labs, Bitkraft Ventures and Griffin Gaming Companions. Extra traders embrace CoinFund, Hashed, Multicoin Capital, Shima Capital, Polygon Studios, and others.
Chris Gonsalves, CEO of Group Gaming, stated in an announcement, “Group Gaming’s place on the intersection of esports and blockchain know-how grants us an amazing alternative to guide the rising dialog round gaming in web3. These assets will permit us to additional help ‘Earnings for Everybody’ methods that reward motion and time, a re-imagining of the social contract of labor as folks search for new methods to create supplemental earnings by gaming.”
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