An international chess tournament, the Meltwater Champions Chess Tour (MCCT), has announced the Nonfungible Token (NFT) trophy and collectibles to preserve the most defined moments of the game for eternity.
The winner of the MCCT will be awarded an NFT trophy, which will mark the mainstream crypto involvement of the international chess community. The final of the tournament will feature nine other professional chess players, including Grandmaster Magnus Carlsen and Wesley Soe.
According to an official statement, the Chess Champions Trophy will create two versions of the NFT, so fans can get a replica of the trophy through an online auction. In addition, the agency will also release a series of NFT collections responsible for “rice, moments and players” on the chess tour.
Carlsen’s interest in crypto can be found in a recent chess tournament organized by the FTX Crypto Exchange, where the world champion won 0.6 bitcoin (BTC) with a cash prize of $ 60,000.
In addition to the prizes, the chess community is exploring the use of blockchain to prevent fraud in online tournaments within the limits of the Covid-1 restrictions. Running parallel to the postponement of the 2020 Chess Candidate Tournament in Ekaterinburg, Russia, World Chess has previously explored the possibility of moving matches online through blockchain technology.
Related: Sports-based NFTs increase gold rush as projects raise 30 930 million a week
A Cointelegraph report from September shows that tokenized sports collectible projects have collectively raised about 1 1 billion in funds in one week.
Dapper Labs, the company that offers tokenized basketball collectible NBA top shots, has announced an increase of x0 times in 2021, as well as $ 250 million in funding.
According to the lawsuit, the NFT Trading Card Marketplace Sorare has raised 80 680 million in funds, led by Japanese fintech giant Softbank. With a revised valuation of .. 4.3 billion, Sorare plans to expand the NFT portfolio of football players by expanding partnerships with football leagues and associations.