Animoca Brands subsidiary Anichesshas announced the completion of an oversubscribed funding round which raised $1.5 million.

Participants in the round included GameFi ventures, Koda Capital, and 708 Capital, among others. The company will use the investment to further the development of its decentralised chess game, expand its team, and grow its community.

Anichess is being developed in partnership with Play Magnus Group and its Champions Chess Tour. The game preserves the core ethos and rules of chess, while adding a new layer of strategy through an innovative spell mechanic which opens up new offensive, defensive, and counter tactics. The game will be presented to millions of players worldwide, with the aim of empowering players through decentralisation and introducing players worldwide to the game of chess.

“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,” said Animoca Brands co-founder and executive chairman Yat Siu.

Checkmate

Anichess aims to bring new energy to chess by modernising the game and taking advantage of the possibilities of Web3 technology, with the aim of utilising strong visuals and skill-based gameplay to deliver an esports-like experience for both established players and newcomers. The alpha version of the game will launch in Q1 2024.

"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," added Play Magnus Group parent company Chess.com chief strategy officer Grant Lee.

We listed Animoca Brands as one of the top 50 mobile game makers of 2022.