TLDR:
- World Champion Magnus Carlsen, along with CEO Mats André Kristiansen, has raised $3 million for their fantasy chess startup.
- Fantasy Chess aims to bring fantasy sports elements to the ancient game of chess, offering new content and streaming capabilities for fans.
World Chess Champion Magnus Carlsen, known for his dominance in the chess world, has ventured into the realm of fantasy sports by co-founding Fantasy Chess. The startup has secured $3 million in pre-seed funding from investors SNÖ Ventures, Coatue, and billionaires Yuri Milner and Peter Thiel. Carlsen’s decision to step away from defending his world championship title was driven by a desire for more enjoyment in the game, leading him to experiment with fantasy sports in chess.
Fantasy Chess, led by CEO Mats André Kristiansen, aims to provide fans with a new way to engage with the game by offering fantasy-style games and enhanced streaming capabilities. The startup intends to create unique content for chess enthusiasts and potentially organize tournaments to attract more people to the game. Despite being in its early stages with no official product and just six employees, Fantasy Chess sees a promising opportunity to leverage the growing popularity of chess in pop culture, thanks to shows like “The Queen’s Gambit” and prominent streamers such as Hikaru Nakamura.
The collaboration between Carlsen and Kristiansen, both with distinct backgrounds in chess and tech startups, is seen as a significant advantage by investors. While the startup has yet to generate revenue, plans to monetize through advertising and premium statistics are in place. Fantasy Chess also aims to keep its games free-to-play and is not prioritizing betting as a revenue stream. With Carlsen set to defend his titles in upcoming championships, Fantasy Chess faces pressure to launch its product and capitalize on the momentum surrounding the sport.
