Chess Revolution Sweeping the World
Chess Revolution Sweeping the World
Unveiling Chess' Resurgence on the Global Stage - A Game Changer for Players and Investors.
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Around 1,500 years ago, on a battlefield far from the one we know today, a young prince of the Gupta empire fell in battle. His mother, grief-stricken, watched as her son’s life was claimed by the chaos of war. His brave brother, driven by a desire to honor his sibling's valiant spirit, sought to illustrate the scene of that fateful day to their grieving mother.
In his hands, he grasped an 8x8 board, each square laden with miniature warriors, knights, and kings, each piece representing a strategic position on the battlefield. He meticulously reconstructed the final moments of his fallen brother's life.
Now, you might assume that the tale ends here, that the family would return to their mourning. However, this tragic episode would birth something extraordinary – a game that transcended time and borders, one we now know as Chess. It was called Chaturanga, a Sanskrit term referring to the formation of military forces, as described in the Mahabharata.
But why does this ancient story matter today?
Because this is quite possibly the inception of Chess as we know it. Many historians believe Chaturanga to be the precursor of Chess. Over the centuries, the game journeyed across continents – from India to Persia, China, and ultimately, Europe, where it would evolve into the game we cherish today, complete with its own set of rules.
India's passion for chess has endured through the ages, and today, it's experiencing a renaissance. The media is abuzz with prodigious talents like Praggnanandhaa, capturing the imaginations of millions. India is making its mark on the global chess stage, boasting 83 Grandmasters, including two accomplished women, and holding two positions within the world's Top 10.
But here's the kicker: Chess isn't just experiencing a resurgence in India; it's become a global sensation, reaching the pinnacle of coolness and capturing the imagination of audiences worldwide. The game has become more than a board game; it's a spectacle, and money is pouring in.
This transformation began a few years ago, catalyzed by an unexpected turn of events – the global pandemic. Locked indoors, people sought solace in puzzles and board games in 2020. With smartphones in hand, online chess quickly became a favorite pastime, sparking a surge in Google searches.
Then came Netflix's limited series, "The Queen's Gambit." This gripping narrative of a young woman's ascent in the chess world struck a chord with viewers, drawing a record-breaking 62 million households in its first 28 days. Interest in chess surged.
The real game-changer, however, was the rise of chess live-streamers, adding a new dimension to the sport. These streams featured vibrant commentary, laughter, and colorful variations of the game, breaking free from the traditional, more sedate image of chess seen on TV. It was chess injected with adrenaline, with variants like Bullet – where players have a mere three minutes to make all their moves, catering perfectly to the online audience. Some termed it "popcorn stuff."
Youngsters flocked to watch these dynamic games. On Twitch, a popular gaming platform, the number of chess streamers skyrocketed. At the start of the pandemic, an average chess streamer had around 3,500 concurrent viewers. By the end of 2020, that number had surged to 16,000, and we're not even talking about the top streamers yet. These streamers began raking in substantial earnings, with the best among them effortlessly amassing over $100,000 through ads, sponsorships, and merchandise. You didn't need to be a top-rated chess player to thrive anymore.
The excitement around chess shows no signs of waning. YouTube's culture trends report revealed that, in just the first seven months of this year, chess-related videos accumulated a staggering 4 billion views.
Everyone wants a piece of the chess phenomenon.
But amidst all this fervor, there's one undisputed winner – Chess.com.
In January 2020, Chess.com boasted around 10 million monthly active users. Just three years later, that number surged to approximately 60 million. The company earned a coveted spot on the Times list of 'The 100 Most Influential Companies,' secured funding from PE firm General Atlantic, and even acquired a chess company owned by the reigning chess world champion, Magnus Carlsen.
Who would have thought such deals would unfold in the world of chess?
So, how did Chess.com ascend to the summit of the chess world, you ask?
It all began in 2005 when two friends acquired the perfect domain name – 'Chess.com' – for $55,000. Their vision was to create a MySpace-like social network for chess enthusiasts. Surprisingly, traffic flooded in effortlessly. One of the founders explains it this way: "Back then, when you were on Internet Explorer or Firefox, if you typed 'chess' into the browser bar and hit enter, it would put the '.com' on there and take you to the site. Every day, we were getting thousands of free visits. We were signing up people at essentially no cost. Because we were doing a lot of content, and people liked the site, we just became number one for chess."
Then came the network effect. With seven out of every ten online chess players congregating on Chess.com, matchmaking improved, attracting even more users. The company invested heavily in chess engines, offering post-game analysis, player error identification, historical chess legend games, and even collaborating with Netflix to recreate gameplay from "The Queen's Gambit."
User numbers soared, followed by advertisers and sponsorships. The company's valuation today? An impressive $500 million.
From Chaturanga, a humble representation of ancient battles, to a global eSports sensation, Chess has indeed come a long way. It now even features in the Olympics eSports series. And the money flowing into the game is set to increase exponentially.
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