Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

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In recent years, the Esports industry has been one of the fastest-growing ones, and by 2022, it is expected to make more than $1 billion. But there will be problems along the way, as there are in any industry that grows quickly. In recent years, the esports industry has had to deal with some big economic problems, and the ongoing pandemic has only made these problems worse. Community Gaming, a Web3 platform for esports tournaments, just announced that it has let go of 17 employees, which is just over 17% of the company's staff. The move comes at a time when the esports industry is still having trouble. In the past few months, it has forced other businesses and sports teams to make similar decisions. Community Gaming is still hopeful that Web3 solutions could help esports organizations get through the recession.

Any Web3 gaming project that wants to be successful needs a strong community, because the power of the community can push a project to the top. In the past few years, this has become more and more clear, as communities have played a key role in promoting projects and helping them grow. As more brands move online, communities are becoming even more important. As we move from Web2 to Web3, the way communities are built and run is changing and becoming more tied to the brands themselves. This article talks about how communities are changing in the gaming industry and how important they are to the success of a project.

Play Ventures sets up the Play Future Fund and puts $75 million into blockchain gaming.A gaming venture capital company called Play Ventures has raised $75 million for a blockchain gaming fund called the Play Future Fund. The fund will put money into blockchain gaming startup projects and web3 startups. Singapore-based Play Ventures has put money into three companies: Community Gaming, ReNFT, and GuildFi. All three projects have something to do with blockchain gaming, and Community Gaming is using NFTs and blockchain to run a tournament.