Meet Immortal Game, a startup that wants to turn chess into a Web3 game with NFTs, playable rewards, quests, a marketplace and more. Online chess has never been more popular and Immortal Game wants to capitalize on this trend to modernize the game.
The company has raised $15.5 million in two rounds, including a $12 million round in July. With this Series A round, TCG Crypto leads the round with Cassius, Greenfield One, Sparkle Ventures, Kevin Durant and Rich Kleiman’s 35V, Blockwall, Kraken Ventures and Spice Capital also participating.
Chess players can already access the Immortal Games platform at beta.immortal.game. After creating your account, you can choose four chess pieces from your inventory and play with someone else.
Designed by Immortal Game, these chess pieces represent traditional chess pieces such as pawn, bishop, knight, etc. If you win and manage to complete some side quests (e.g. , you will get rewards.
But there is also a metagame. Special pieces are also NFTs with different rarity levels. You can exchange them for ETH on the Immortal Game marketplace. The company also has Utility Tokens (CMT), which you can get depending on your leaderboard ranking, and Governance Tokens (IGE).
Based on this, Immortal Game has ambitious plans with league tournaments and new game modes. Behind the scenes, the company uses Immutable X as a layer 2 solution on the Ethereum blockchain.
“A tipping point in the adoption of blockchain technology for consumer gaming has been reached,” said Thomas Zaepffel, co-founder and CEO of Immortal Game, in a statement. “Chess is a centuries-old game that benefits from this technology, preserving its legacy while attracting a new group of players. We’re excited to have the support of 50 grandmasters as we continue to expand the reach of this incredible game.”
20 people are currently working on Immortal Game. The company releases 30 new pieces a day. Since June 2022, the company has generated a transaction volume of 200 ETH on its marketplace. There are 50,000 registered players with 5,000 active players per week.
That’s not a lot of people, which means there’s plenty of room for growth. Millions of people play chess on mobile apps and online sites. If Immortal Game can convince a fraction of these players to try its Web3 chess platform, it could be a lucrative business.