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- 1 Community Gaming reduced workforce amid Esports industry downtrend.
- 2 The workforce sees a fall in North America and Turkey.
Community Gaming, a New York-based esports tournament platform, has laid off approximately 17 employees. According to the gaming news website Esports Advocate, the company has reduced its workforce in North America and Turkey.
Although the reason behind the reduction of employees hasn’t been disclosed, it is believed that the global recession has much to do with it. As per the LinkedIn profile of Community Gaming, the company has 110 employees across the globe.
However, it is assumed that the company may have more employees than the ones primarily mentioned on LinkedIn.
Community Gaming is a strong proponent of Web3, Crypto, and Blockchain. The company describes itself as an esports company and a questing platform focused on developing payment solutions and practical community engagement tools that help boost the growth and adoption of Web3 gaming.
According to Crunhbase, Community Gaming has secured $18.5 million in four funding rounds. Some leading investors in Community Gaming are
- CoinFund
- SB Opportunity Fund
- ConsenSys, and
- Chris Gonsalves.
Animoca Brands, including Diverse Angels, BITKRAFT Ventures, Beacon, Jeff Zirlin, Griffin Gaming, and Crowd Venture Capitals, support Community Gaming. The last funding round of Community Gaming was organized in April 2022 and was led by a venture capital fund operated by SoftBank.
Chris Gonsalves, Chief Executive Officer of Community Gaming, is an active investor in the Web3 and Gaming sector. According to Chris’ investment portfolio, he invested in a few other gaming companies, including Horizon Blockchain Games, Community Gaming, Evil Geniuses, and AAG Ventures.
Chris is the Co-founder of Community Gaming and has also co-founded the 3XP Gaming Expo.
On March 15, TheCoinRepublic reported that Anchorage Digital is a newcomer in the crypto industry, now becoming a member that slashed staff. This decision is because the crypto industry grapples with a significant market downturn for digital assets.
According to Anchorage, they are laying off nearly 20% of its staff, or 75 people, and cited the “uncertain crypto regulatory landscape in the US” as a factor in its decision.
As per the ongoing situation, companies across multiple industries are laying off their employees, reasoning global financial disturbance. To name a few, Meta, Amazon, and Google falls within the same bracket of employee firing.
It must be noted that since the beginning of 2023, various prominent crypto companies, including Huobi, Coinbase, Blockchain.com, Crypto.com, and Luno, have also announced layoffs.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
