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3 Sep 2024 15:40
03 September 2024
World Chess Plc
("World Chess" or the "Company")
World Chess Extends Partnership with the Algorand Foundation
World Chess plc (LSE: CHSS), a leading chess organisation committed to enhancing the global mass market appeal of chess by introducing a variety of innovative chess-related activities, is pleased to announce the extension of its partnership with the Algorand Foundation ("Algorand") for an additional year. This continued collaboration will further integrate Algorand's cutting-edge blockchain technology into the chessarena.com ecosystem, enhancing the platform's offerings and user experience.
As part of this renewed agreement, Algorand has agreed to a continued sponsorship package of World Chess. The extended partnership will include the launch of a new Algorand Tournament Series on chessarena.com, which will provide players with the opportunity to compete in blockchain-enabled tournaments, offering unique rewards and enhancing the overall chess experience. World Chess is harnessing Algorand's blockchain capabilities not only to create unique digital chess assets on the platform but to also connect various chess projects in the Company's ecosystem to ensure a more engaging experience.
Ilya Merenzon, Chief Executive Officer of World Chess, said: "We are excited to extend our successful partnership with the Algorand Foundation for a further year, marking a significant step in our mission of enhancing and modernising chess for a global audience.
"This continued collaboration allows us to further integrate Algorand's blockchain technology into our platform, enriching the Chessarena ecosystem and offering players exciting new opportunities via our new Algorand Tournament Series."
For more information, please visit https://worldchess.com/investors or contact:
This announcement contains information that, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
World Chess Ilya Merenzon, CEO | Via Yellow Jersey PR
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Novum Securities Limited - Financial Adviser David Coffman / George Duxberry | +44 (0) 20 7399 9400 |
Allenby Capital Limited - Broker Joscelin Pinnington / Tony Quirke (Sales) John Depasquale / Lauren Wright (Corporate Finance) | +44 (0) 20 3328 5656 |
Yellow Jersey PR Charles Goodwin Annabelle Wills |
+44 (0) 774 778 8221 +44 (0) 777 519 4357 |
Notes to Editors
About World Chess Plc
World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and Fédération Internationale des Échecs ('FIDE') official commercial partner. World Chess organised the FIDE Championship Matches in the USA, and the UK, and revolutionised the sport by signing the biggest media partnerships in history. World Chess develops Armageddon, the chess league for prime-time television. World Chess also runs FIDE Online Arena, the exclusive official chess gaming platform. More at https://worldchess.com.
About The Algorand Foundation
Founded by Turing Award-winning cryptographer Silvio Micali in 2019, Algorand has grown into a vibrant ecosystem of developers, entrepreneurs, and enterprise partners that benefit from institutional-grade certainty and resilience. Its fees, instant finality, and a minimal carbon footprint appeal to the protocol's millions of retail users, and developers of all kinds appreciate the ability to use common programming languages like Python.
Builders on Algorand are creating protocols and companies that solve important problems at a global scale: instant payments in war and disaster zones, self-sovereign identity for the disenfranchised, supply-chain traceability for global commerce, permissionless protocols addressing financial inclusion, and the creation of entirely new markets through tokenization, to name a few. More at https://algorand.co.
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