Chess grandmaster Magnus Carlsen awarded NFT trophy after tournament win

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For the primary time in chess historical past, grandmaster Magnus Carlsen has been awarded a nonfungible token (NFT) trophy for profitable a world chess event, Meltwater Champions Chess Tour (MCCT). The event minted a variety of NFT trophies and collectibles to indefinitely preserve the game’s most defining moments

Chatting with Cointelegraph, Carlsen shared his appreciation of the cryptocurrency ecosystem for supporting digital chess tournaments. The chess champion cited MCCT’s latest partnership with FTX crypto alternate that allowed skilled chess gamers to compete for a prize fund of two.1825 Bitcoin (BTC) ($81,079). 

“NFTs assist the chess group rejoice nice moments and presumably additionally reward people who have already invested a lot time in rising the sport. With Chess Champs, that is simply getting began and I stay up for seeing it evolve,” Carlsen mentioned.

Chess Champs minted two equivalent editions of the Champion’s Trophy NFT on the Ethereum blockchain, which have been digitally signed by Carlsen after profitable the event. The second NFT trophy was auctioned off at 6.88 Ether (ETH), roughly $24,700 on the time of buy. Based on a supply, the bidding for the NFT trophy went as much as 11 Ether ($27,093) after the deadline. Carlsen mentioned:

“It feels nice to share the trophy with a passionate fan. It is going to be attention-grabbing to play a match with him and assembly him throughout the subsequent season’s Champions Chess Tour Ultimate.”

Collectibles additionally embrace NFTs devoted to numerous chess items (comparable to a pawn and a bishop) on the blockchain.

Associated: Valued at $4.3B, NFT platform Sorare to invest in women’s sports

Because the NFT increase continues to bridge the hole between sports activities and digital leisure, NFT marketplaces provide new floor for innovation.

Sorare, a market for NFT buying and selling playing cards, attained a $4.3-billion valuation after elevating $680 million in Sequence B funding led by Japanese fintech large SoftBank. As Cointelegraph reported, the corporate plans to make use of this funding to “considerably speed up the event of ladies’s sports activities.”

Furthermore, Sorare has additionally secured partnerships with La Liga soccer league and plans to onboard top-tier soccer groups because it diversifies its NFT-based portfolio choices to different fantasy sports activities.