World Chess (CHSS ) has signed a two-year partnership with Algorand Foundation Ltd, renewing and expanding their long-standing collaboration.
Under the agreement, Algorand will stake part of its ALGO (native Algorand blockchain cryptocurrency) treasury with a professional custodian and direct the staking rewards to World Chess. The company expects to receive around USD 175,000 per quarter, or about USD 700,000 annually, in ALGO tokens to support blockchain-driven product development and marketing.
Algorand remains the exclusive Blockchain Partner of World Chess. Branding will feature across worldchess.com, mobile apps, the Armageddon Championship Series, and global chess events and broadcasts.
Importantly, the partnership will accelerate integration of blockchain technology across World Chess products. New features include The Tower, an on-chain loyalty and rewards programme using Algorand’s custodial solution for businesses, and a Global Chess Passport powered by Algorand’s web3 identity wallet. The structure also supports the broader Algorand network by increasing staked participation.
We're pleased to extend our collaboration with Algorand as our exclusive blockchain partner,” said World Chess’s Chief Executive Officer Ilya Merenzon.
“This partnership allows us to build innovative products such as the Tower and the Global Chess Passport, linking online, over-the-board, and live events into one connected chess ecosystem.”
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This deal provides World Chess with a predictable quarterly inflow in ALGO that can be channelled into product rollouts and user growth. The focus on loyalty and identity features should help retention across online and live formats, while continued Algorand exclusivity keeps brand alignment tight.