Grandmaster Magnus Carlsen chases a nonfungible trophy
An worldwide chess match, Meltwater Champions Chess Tour (MCCT), has introduced to mint nonfungible token (NFT) trophies and collectibles for preserving the sport‘s most defining moments for infinity.
The winner of the MCCT will be awarded an NFT trophy, marking the mainstream crypto involvement from the international chess community. The tournament’s finals will see participation from grandmaster Magnus Carlsen and different 9 skilled chess gamers together with Wesley So.
According to the official assertion, Chess Champs will mint two editions of the Champion’s Trophy NFT, permitting followers to acquire a duplicate of the trophy by an internet public sale. Moreover, the corporate can even launch a sequence of NFT collectibles attributed to “the moves, the moments and the players” on the chess tour.
Carlsen’s curiosity in crypto will be traced again to a current chess match hosted by FTX crypto exchange, the place the World Champion won 0.6 Bitcoin (BTC) together with the $60,000 prize in money.
In addition to awards, the chess group is exploring blockchain use circumstances to stop dishonest in on-line tournaments amid the COVID-19 restrictions. Running parallel to the postponement of the 2020 Chess Candidates Tournament in Ekaterinburg, Russia, World Chess has beforehand explored the potential for shifting matches on-line through blockchain know-how.
Related: Sports-themed NFTs spark gold rush as initiatives increase $930M in per week
A Cointelegraph report from September reveals that tokenized sport collectibles initiatives have collectively raised nearly $1 billion in funding inside per week.
Dapper Labs, the agency providing tokenized basketball collectibles NBA Top Shot, introduced a $250 million funding spherical along with revealing a 30x development in 2021.
Following swimsuit, Sorare, an NFT buying and selling playing cards market raised $680 million in funding led by Japanese fintech big SoftBank. With a revised valuation of $4.3 billion, Sorare plans to develop its portfolio of soccer participant NFTs by growing partnerships with soccer leagues and associations.