Immortal Game, the company behind the Web3 chess startup of the same name, has raised $12 million in its latest round of funding, as per the announcement on Thursday. The company plans to use this funding to build out its product, which offers a blockchain-based platform for chess players.
The funding round was led by TCG Crypto along with some other players including Cassius, Greenfield One, Sparkle Ventures, Spice Capital, Kevin Durant, Rich Kleiman’s 35V, Blockwall, and Kraken Ventures. The platform has also received backing from 50 chess Grand Masters, who serve as ambassadors for the game, including Maxime Vachier-Lagrave and Pragganandhaa Rameshbabu.
“An inflection point in the adoption of blockchain technology for consumer gaming has reached. Chess is a centuries-old game that benefits from this technology, preserving its heritage while attracting a new group of players. We are excited for the support of 50 Grand Masters as we continue to broaden the reach of this incredible game,” said Thomas Zaepffel, chief executive officer at Immortal Game.
The company was founded in 2021 with the objective of providing chess players with cutting-edge technology at their disposal. The platform aims at providing more than just the classic chess game with various different quests and game modes incorporated into the game. TCG’s Jesse Jacobs highlighted the features of the game and backed the company in leading the way for others in the Web3 segment.
“Immortal Game is at the cutting edge of games and blockchain technology. The team is world-class, the product is excellent and the vision is inspiring. We’re excited to partner with Thomas, David, and Geoffroy as they expand the gaming experience for passionate communities in new and exciting ways,” said Jesse Jacobs, co-founder, and partner, of TCG.
Notably, the startup had raised $3.5 million in funding earlier this year, taking its tally to a total of $15.5 million this year. Immortal Game has set its eye on key markets in the US, Europe, and India. Zaepffel said, “Now the focus is to reach out to players and to show them we can offer something different, if not something new, to chess.”