Community Gaming, a blockchain-powered esports platform, launched its CGX token on Wednesday on Ethereum sidechain network Ronin, alongside its Forkast prediction markets platform that’s focused on video games and internet culture.
Forkast, which is built around the CGX token, allows users to create and participate in prediction markets centered around gaming, streamers, esports events, and Web3 assets. The platform is integrated with Ronin’s Waypoint wallet to provide users with gasless transactions.
Users can earn CGX tokens through weekly performance leaderboards, daily trading incentives, and gaming tournaments. Token holders can stake CGX to receive monthly platform credits, create new prediction markets, and participate in governance of the forthcoming PVP blockchain.
Forkast launched Wednesday with a CGX airdrop claim for users who had staked tokens purchased via a pre-sale on the Ronin launchpad and Impossible Finance, alongside rewards programs launched via exchanges like Gate.io and MEXC.
Demand for the claim apparently led to issues, however, with Community Gaming co-founder and CEO Chris Gonsalves saying the team was working to resolve the claim hitches.
“We’ve seen an insane amount of traffic, which has exceeded our expectations,” he wrote on X. “Tens of thousands of you went to claim and we’re addressing the site stability issues on CG. We’re working diligently to have everything up and running smoothly as soon as possible.”
Ronin is the gaming-centric network behind major blockchain games like Axie Infinity and Pixels. The Forkast launch comes just days after Ronin went permissionless, opening up to all builders after four years of being a curated ecosystem. Ronin’s RON token is up nearly 8% over the last week to a current price of $1.23.
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