Chess3

The vision behind Chess3 is to create a platform that not only brings traditional chess into the world of blockchain but also builds a sustainable web3 economy. Unlike many previous web3 games that faltered due to unsustainable tokenomics, Chess3 focuses on creating lasting value through cosmetic assets rather than speculative tokens. Inspired by the success of games like CS:GO with their cosmetic markets, Chess3 introduces on-chain skins and cosmetic items that offer real ownership to players. This approach avoids the pitfalls seen in the past, such as non-fungible tokens (NFTs) or farmable tokens that have led to economic instability in other web3 games.

The platform also seeks to challenge the traditional gaming industry by giving players actual control over their in-game assets. By leveraging blockchain technology, Chess3 ensures that players own their cosmetics, free from the risks of centralized control often seen in other gaming ecosystems. The team's vision is to foster a strong, self-sustaining community of players who value the uniqueness of their chess-related assets, without falling into the speculative trap that often plagues web3 games.

Chess3 also pays homage to the pioneers of GameFi such as Axie Infinity, but takes a more thoughtful approach to long-term sustainability. By avoiding the play-to-earn model and focusing instead on a play-and-own model, Chess3 aims to create an engaging platform where users' in-game accomplishments are valuable, but not inflated by unrealistic economic models.

Find more details on their development progress.

The development of Chess3 is phased, with several key milestones leading up to the full platform launch. Currently, the team is focusing on improving their skill-based matchmaking system and the introduction of on-chain wagering. The roadmap includes:

1. Phase 1: Off-chain, centralized wagering to test gameplay mechanics.
2. Phase 2: On-chain wagering on testnet, allowing users to participate without risking funds.
3. Phase 3: Full on-chain wagering on mainnet, enabling trustless and immutable game outcomes for all wager matches.

Tournaments are also in development and expected to be introduced by late Q3/Q4 2024, enhancing the competitive environment of the platform. The full beta, featuring all these components, is planned for release in Q4 2024.

For more information, visit their official documentation.

Although the platform is still in early stages, the Chess3 team includes a mix of pro chess players and streamers, backed by individuals with decades of experience in startups, web3, and chess. The team has collectively raised over $50 million in previous ventures, though specific team members or investors are not disclosed on their official documentation yet. However, their extensive background in both traditional and web3 markets positions them to lead Chess3 toward becoming a major player in the growing web3 gaming space.

Chess3 plans to roll out its beta version in Q3 2024. In this phase, users will gain full access to their private keys and seed phrases, enabling them to manage their wallets through external providers like MetaMask. During the beta period, wager play will be introduced in stages, starting with a testnet phase where users can participate without risking their funds. This cautious approach allows for robust testing of smart contracts before fully launching on mainnet.

To participate in early access, users will need an access code to create an account on the platform. More details about the early access program can be found here.