Meet Immortal Sport, a startup that wishes to show chess right into a web3 sport with NFTs, play-to-earn prizes, tournaments, markets and extra. On-line chess has by no means been so common and Immortal Sport desires to make the most of that pattern to modernize the sport.
The corporate has raised $15.5 million in two rounds, together with a $12 million spherical in July. For this Collection A spherical, TCG Crypto is main the spherical, with Cassius, Greenfield One, Sparkle Ventures, Kevin Durant and Wealthy Kleiman’s 35V, Blockwall, Kraken Ventures and Spice Capital taking part.
Chess gamers can already entry the Immortal Video games platform at beta.immortal.sport. After creating your account, you possibly can choose 4 chess items out of your stock and begin taking part in with another person.
These chess items are created by Immortal Sport and characterize conventional chess items, resembling pawns, bishops, knights, and so on. reward
However there’s additionally a metagame. Particular items are additionally NFTs with completely different ranges of rarity. You may promote them on the Immortal Sport marketplace for ETH. The corporate additionally has utility tokens (CMT) you could earn primarily based in your leaderboard rank, and governance tokens (IGE).
From that basis, Immortal Sport has formidable plans with league tournaments and new sport modes. Behind the scenes, the corporate makes use of Immutable X as a 2-layer answer on high of the Ethereum blockchain.
“An inflection level within the adoption of blockchain know-how for client gaming has been reached,” Immortal Sport co-founder and CEO Thomas Zaepffel stated in a press release. “Chess is a centuries-old sport that advantages from this know-how, preserving its heritage whereas attracting a brand new group of gamers. We’re delighted with the assist of Grand Masters 50 as we proceed to broaden the attain of this lovely sport.
There are at the moment 20 folks engaged on Immortal Sport. The corporate produces 30 new items per day. Since June 2022, the corporate has generated 200 ETH in transaction quantity on its market. There are 50,000 registered gamers and 5,000 gamers taking part in each week.
That is not lots of people, which implies there’s a number of room for progress. Tens of millions of individuals play chess on cellular apps and on-line websites. If Immortal Sport can persuade a portion of these gamers to strive its web3 chess platform, it might be a really worthwhile enterprise.