Community Gaming, a Web3 esports tournament platform, has laid off 17 employees, the company confirmed to Decrypt on Friday. The Esports Advocate first reported the news. The tally represented just over 17% of the company’s head count.

Community Gaming CEO Chris Gonsalves told Decrypt that broader struggles across the competitive gaming industry—which have forced layoffs at other companies and teams in recent months, as well—led to the decision.

“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,” Gonsalves told Decrypt. “We appreciate the contributions of all our employees and will support them as they continue to be innovators in the space.”

In April 2022, during the crypto bull market, Community Gaming raised $16 million in Series A funding from crypto heavyweights like Softbank, Binance Labs, ConsenSys Mesh, Bitkraft, Polygon Labs (then Polygon Studios), and Animoca Brands.

In the past year, Community Gaming has more than doubled its total user base, going from roughly 100,000 in April 2022 to 250,000 today, Gonsalves said. Community Gaming also facilitated more than 600 tournaments last month, he added, with more than 21,000 players participating in at least one tournament during

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Author: Kate Irwin

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