Chess Grandmaster Magnus Carlsen presents NFT trophy after winning the tournament

For the first time in chess history, Grandmaster Magnus Carlsen received a nonfangible token (NFT) trophy for winning an international chess tournament, the Meltwater Champions Chess Tour (MCCT). The tournament minted NFT trophies and collection materials to preserve the most defined moments of the game indefinitely.

Speaking to Cointelegraph, Carlsen shared his appreciation of the cryptocurrency ecosystem for supporting virtual chess tournaments. Chess champion MCT cites a recent partnership with FTX Crypto Exchange that allows professional chess players to compete for prize funds of 2.1825 bitcoins (BTC) ($ 81,079).

“NFTs help the chess community celebrate great moments and perhaps reward those who have already spent so much time promoting the game. With chess champs, this is just the beginning and I look forward to developing it, ”Carlsen said.

Chess champs created two identical versions of the Champions Trophy NFT in the Ethereum blockchain, which Carlsen digitally signed after winning the tournament. The second NFT trophy was auctioned at 6.88 ETH, at about $ 24,700 at the time of purchase. According to a source, the tender for the NFT Trophy has been 11 Ether (ETH) ($ 27,093) after the deadline. Carlsen says:

“It feels great to share the trophy with an emotional fan. It will be interesting to play a match with him and meet him in the final of next season’s Champions Chess Tour. ”

Collectibles include NFTs dedicated to various chess pieces (such as Pon and Bishop) in the blockchain.

Related: The NFT platform Sorare is worth $ 4.3B for women to invest in sports

As the NFT boom continues to bridge the gap between sports and digital entertainment, NFT marketplaces provide new grounds for innovation.

Sorare, a market for NFT trading cards, has raised 4. 4.3 billion in valuations, raising বি 680 million in Series B funds led by Japanese fintech giant Softbank. As Cointelegraph reports, the company plans to use the funds to “significantly accelerate the development of women’s sports.”

Moreover, Sora has also confirmed a partnership with La Liga Soccer League and plans to climb to the top-tier soccer teams as it has diversified its NFT-based portfolio offers to other fantasy sports.