World Chess PLC has released its operational update for the full year 2023, highlighting significant achievements and developments. The company successfully completed its IPO and admission to the Main Market of the London Stock Exchange, raising approximately £3 million in gross proceeds. It also opened the World Chess Club in Berlin and launched the inaugural Armageddon Chess Championship Series, with it.com Domains as the official sponsor in a three-year deal. The Armageddon content was broadcast across 33 television networks, including Bloomberg television in EMEA and CNBC. Additionally, World Chess made strategic investments in the FIDE Online Arena and introduced Arena 2.0, which brought important upgrades to the platform, including technology enhancements and consumer-facing updates. The FIDE Online Arena's anti-cheating system, NightWatch, received official certification from FIDE, emphasizing the platform's commitment to fair play and the integrity of online chess competitions.
The company's first club in Berlin has been performing well, serving as a cultural hub for the game and hosting various chess events, including the Armageddon Chess Championship Series. World Chess is also exploring opportunities to open additional clubs in other international cities. In terms of merchandise, the company offers a range of premium chess boards and pieces, clothing, and collectibles for chess enthusiasts, with new products introduced, such as the limited-edition chess map artwork and an expanded range of chess sets.
The inaugural Armageddon Championship Series saw top male and female players competing for the €460,000 total prize fund, with the Grand Finale held at the World Chess Club Berlin. Polish Grandmaster Jan-Krzysztof Duda emerged victorious, and the event was streamed across 147 territories with 33 international broadcasters. Ilya Merenzon, CEO of World Chess, expressed the company's ambition to reinvent chess for new audiences and experiences, emphasizing the potential for commercialization and the rise in popularity globally. For more information, interested parties can visit the company's investor page or contact the provided representatives.