Animoca Subsidirary Anichess Secures $1.5 Million in Seed Round for Decentralized Chess Game

Anichess, a subsidiary of Animoca Brands, has managed to successfully raise $1.5 million in an oversubscribed seed round for the development of a decentralized chess game that is being made in partnership with Play Magnus Group and its Champions Chess Tour.

GameFi Ventures, The Operating Group, Koda Capital, Bing Ventures, 708 Capital, Asymmetry Capital, and more investors participated in this round.

According to the press release, Anichess aims to retain the core elements and classic rules of chess, while adding a new mechanic that brings another level of strategy to the complex mental sport. This means that the game will still be skill-based and free-to-play, while adding on to the well-known elements a new spell mechanic that is set to introduce various new offensive, counter and defensive tactics to the mix.

Co-founder and executive chairman of Animoca Branda, Yat Siu, said the following:

“The strong support expressed by investors validates Anichess’s vision of delivering unparalleled experiences for chess players, gamers, and fans. Partnering with Chess.com is an incredible opportunity to work with some of the leading chess players and influencers across the world and to bring chess into the open metaverse.”

Play Magnus Group was acquired by the world’s biggest chess site, Chess.com, in December 2022, giving the Champions Chess Tour an even bigger reach. As a result of the partnership with Animoca, Anichess has a chance to be “presented to millions of chess fans to deliver innovative experiences, grow the global chess community, and empower players through decentralization.”

The chief strategy officer of Chess.com, Grant Lee, added:

"We are excited about partnering with Animoca Brands to provide some of the top players and influencers in our ecosystem with a fun and different chess experience as part of our overall mission to grow the game by presenting chess in new ways to different audiences."

More details can be found in the official press release.