GCIWorld Chess and it.com to host interactive chess event 'Hans Niemann vs. You' at Web Summit 2024
() , a London-based chess gaming and entertainment company, together with partner it.com Domains announced a new interactive chess event 'Hans Niemann vs. You' to be held at the annual technology conference Web Summit 2024 in Lisbon, Portugal on November 13, 2024.
The event will allow global participants to virtually challenge Grandmaster Hans Niemann, known as the "bad boy of chess" for his unconventional playing style. Participants will collectively vote and decide each move against the Grandmaster. The match will be livestreamed from the Web Summit conference stage, with voting displayed in real time and the strategy behind each move being explained.
Ilya Merenzon, CEO of World Chess, commenting: "We are pleased to bring this sport to Web Summit, where leaders of the tech community can engage with chess, not only to enjoy it but also contribute to its evolution. Partnering with it.com Domains and Web Sumit gives us the chance to showcase the excitement of chess to a global tech audience."
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World Chess announces an exciting upcoming tournament at Web Summit 2024 whereby the global chess community alongside tech enthusiasts at the event will team up as part of a "World Team" against famous Grandmaster Hans Niemann. The event will be livestreamed on World Chess' YouTube channel as well as on chess.it.com, allowing participants from anywhere to join the global team.
The match should generate ample views online and at the event, exposing leading figures in the tech industry to World Chess and its digital content. The partnership between World Chess and it.com Domains further speaks to ' commitment to digital innovation. As part of its growth strategy, aims to establish long-term partnerships with major brands seeking to engage with online chess' rapidly expanding audience.
Since listing on LSE Main Market in April 2023, has significantly expanded its merchandising and commercial efforts. In October 2024, it announced the World Chess Tour (WCT), set to launch in 2025. The upcoming global circuit is expected to feature chess' biggest stars in a series of tournaments modelled after the ATP Tour in tennis. With an expected 60 global broadcast partners, WCT will offer significant exposure through live events, online platforms, and televised matches. Previously, hosted the inaugural Armageddon Championship Series at its Berlin location, which was broadcast across 33 TV networks, including Bloomberg and CNBC, making it one of the most televised chess events ever.
These activities have significantly raised the profile of the company, and we see additional upside from the Web Summit-hosted match, as continues to innovate on one of the world's oldest board games. Additionally, 's growth is supported by its exclusive license from FIDE, the international governing body for chess, which significantly reduces competition and creates substantial cross-selling opportunities.
In its most recent final results for FY23, forecast revenue growth of CAGR 43% between 2023 and 2025, with broker Allenby Capital placing an optimistic target price of 4.6p at the time of issue.
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