Meet immortal game, a startup looking to turn chess into a web3 game with NFTs, earn rewards through play, tasks, marketplaces, and more. Online chess has never been more popular, and Immortal Game wanted to capitalize on this trend to modernize the game.
The company has raised $15.5 million in two funding rounds, including a $12 million round in July. TCG Crypto leads the Series A round with participation from Cassius, Greenfield One, Sparkle Ventures, Kevin Durant and Rich Kleiman’s 35V, Blockwall, Kraken Ventures and Spice Capital.
Chess players already have access to Immortal Games’ platform beta.immortal.game. After creating an account, you can choose four pieces from your inventory and start playing with others.
These pieces are designed by Immortal Game and represent traditional pieces such as pawns, elephants, horses, etc. If you win and manage to complete some side quests (eg “Win at least 1 of my knights”), you are rewarded.
But there is also a metagame. Special pieces are also NFTs with different rarities. You can exchange them for ETH on Immortal Game’s marketplace. The company also has Utility Tokens (CMT) that you can earn based on your leaderboard rank and Governance Tokens (IGE).
Building on this, Immortal Game has ambitious plans, including leagues and new game modes.Behind the scenes, the company uses Immutable X As its layer 2 solution on top of the Ethereum blockchain.
“The inflection point for consumer gaming adoption of blockchain technology has been reached,” Immortal Game co-founder and CEO Thomas Zaepffel said in a statement. “Chess is a centuries-old game that has benefited from this technology, attracting a new wave of players while preserving its traditions. We are delighted to have the support of 50 grandmasters as we continue to expand The impact of this incredible game.”
There are currently 20 people working on Immortal Game. The company releases 30 new products every day. The company has generated a volume of 200 ETH on its market since June 2022. There are 50,000 registered players and 5,000 active players every week.
That’s not a lot of people, which means there’s a lot of room for growth. Millions of people play chess on mobile apps and online websites. If Immortal Game managed to convince a small group of players to try its web3 chess platform, it would be a lucrative business.