Team Liquid and Community Gaming announce 20K USDC Tournament Series For Onchain Summer 2024

NEW YORK, June 21, 2024 /PRNewswire/ -- Community Gaming, the premier all-in-one tournament platform, is excited to announce its partnership with Team Liquid for this year's Onchain Summer celebration. The North American tournament series will boast a total prize pool of $20,000 across four events, highlighting elite talent in Team Fight Tactics and Hearthstone. Winners will be paid in USDC, a digital asset redeemable 1:1 to US Dollars, on Base, the Layer-2 blockchain incubated by Coinbase.

The series will commence with two $5,000 Teamfight Tactics tournaments on June 29-30 and July 13-14, each featuring a 256-player battle royale format.

After TFT, the spotlight shifts to Hearthstone, kicking off two tournaments on July 27-28 and August 17-18. The events will gather 128 players in a single-elimination Bo3 setup. Each tournament features a $5,000 prize pool which will be paid out using fast and secure payouts in USDC on Base. USDC enables winners to be paid faster and with less fees than traditional payout methods.

"Late payments and high fees are common occurrences in the esports industry. CG's automated payment system running on Base ensures fast, secure, and transparent payments" said Chris Gonsalves, Community Gaming CEO.

"All top 16 players will be paid instantly, with no fees after the tournament concludes. Players' winnings will go into their Coinbase Smart Wallet, where they can access and use them immediately. Building with Coinbase onchain products is a value to the gaming community" says Shelley Taniguchi, Team Liquid Director, Global Partnerships.

"Esports is a billion dollar industry. Imagine how much money is lost in order to pay fees and intermediaries but should be going directly to the players. By using USDC on Base, more money will go directly into the hands of the winners. We're excited to see Team Liquid and Community Gaming leverage the benefits of cheaper and faster onchain payments on Base - we believe this is a positive evolution for esports," Jesse Pollak, Creator of Base.

This tournament series is part of the broader Onchain Summer event, an annual initiative by Coinbase to introduce more users to the onchain world. Onchain Summer celebrates the intersection of art, music, gaming, and blockchain technology, and this year's tournament series aims to highlight the efficiency of immediate and secure payments for esports player payments.

About Community Gaming
Community Gaming has built the most advanced tournament software in the world, powering the payment infrastructure of over 50k tournament matches each month for popular web2 and web3 games. The CG platform empowers millions of gamers to monetize their passion for gaming through tournaments and fan engagement. Our platform equips players, tournament organizers, and game developers with the tools needed to create and participate in scalable tournaments.

About Team Liquid
Team Liquid is an esports and gaming organization founded in 2000 in Utrecht, the Netherlands. The organization competes across multiple esports titles, including League of Legends, CounterStrike2, Dota 2, VALORANT, Mobile Legends: Bang Bang, and more. With over $49M in prize money won from over 7000 tournaments throughout its history, Team Liquid is the most successful esports team in the Western market in terms of competitive achievement, esports viewership, and fan engagement. In addition to its premier esports team franchises, Liquid Enterprises operates various business units created to complement its athletic brand. This includes a white-label apparel business, the world's most popular esports wiki Liquipedia, and a full-service white-label agency. Team Liquid operates in North America, Latin America, Europe, and South East Asia — a global footprint befitting the world's biggest esports team.

Contact: [email protected]

SOURCE Community Gaming Inc