TechFlow news: Jonah, partner at Game Fund Partners, posted on X stating that the Immortal Game team is stepping back from Web3 gaming. They raised $15 million and are now attempting a return to Web2.
The Immortal Game team later responded in the comments: "To clarify, we remain strong advocates for Web3 and game ownership. However, we believe play-to-earn models are unsustainable—especially in chess. We're still actively developing Web3 features for our platform, particularly solutions to combat cheating in online chess. More new features will roll out in the coming months."
Previous report: In September 2022, the NFT chess game Immortal Game completed a $12 million Series A round led by TCG Crypto, with participation from Cassius, Greenfield One, Sparkle Ventures, Kraken Ventures, Spice Capital, and other investors. After this round, the company's total funding reached $15.5 million.
