Immortal Game Raises $15.5M for Web3 Chess Platform
A new startup called Immortal Game blends traditional chess with NFTs and play-to-earn rewards. The company secures $15.5 million in funding to grow its blockchain-based chess community.
Immortal Game is a new startup that transforms traditional chess into a web3 experience by introducing NFTs, play-to-earn rewards, and side quests. Taking advantage of the recent surge in online chess popularity, the company raises $15.5 million across two funding rounds, including a $12 million Series A led by TCG Crypto with participation from several notable venture firms and NBA star Kevin Durant's 35V.
Players access the beta platform to compete in matches using specially designed digital pieces that act as NFTs with varying rarity levels. By winning games and completing specific challenges, players earn rewards and trade their unique pieces on a built-in marketplace for Ethereum. The platform also features utility and governance tokens, relying on Immutable X as its layer-2 scaling solution on the Ethereum blockchain.
While the startup currently reports 50,000 registered users and 5,000 weekly active players, it sees massive growth potential by tapping into the millions of people who already play chess online. Backed by the support of 50 chess Grand Masters, Immortal Game plans to expand its metagame with league tournaments and new game modes to attract a broader audience to its blockchain-based platform.