Web3 Esports Platform ‘Community Gaming’ Announces 17% Layoff

• The sum equaled little more than 17 percent of the company’s total workforce.
• Community Gaming’s user base has more than doubled in the last year.

Web3 esports tournament platform Community Gaming stated on Friday that it had laid off 17 staff. The Esports Advocate was the first to break the story. The sum equaled little more than 17 percent of the company’s total workforce.

Community Gaming CEO Chris Gonsalves said that the decision was made due to the widespread difficulties in the competitive gaming sector, which have resulted in layoffs at other firms and teams in recent months.

Restructuring Goals

Softbank, Binance Labs, ConsenSys Mesh, Bitkraft, Polygon Labs (formerly Polygon Studios), and Animoca Brands were among the crypto industry giants that contributed to Community Gaming’s $16 million Series A fundraising round in April 2022, at the height of the crypto bull market.

The CEO stated:

“With the economic downturn in the esports industry, we’ve had to restructure our goals in order to have a stronger future, which came with some roles being eliminated. We appreciate the contributions of all our employees and will support them as they continue to be innovators in the space.”

From around 100,000 in April 2022 to 250,000 now, Community Gaming’s user base has more than doubled in the last year, according to Gonsalves. More than 21,000 gamers took part in at least one event last month, and he noted that over 600 of those tournaments were hosted by Community Gaming.

Gonsalves started Community Gaming because he thought there was an issue with how quickly winners were being paid in esports and he wanted to solve that problem by using cryptocurrency. Payouts to victors in esports events may be complicated affairs, requiring several parties and additional time and money.

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