Grandmaster Magnus Carlsen chases a nonfungible trophy

A world 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 shall be awarded an NFT trophy, marking the mainstream crypto involvement from the worldwide chess group. The match’s finals will see participation from grandmaster Magnus Carlsen and different 9 skilled chess gamers together with Wesley So.

Based on 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 way of an internet public sale. Furthermore, the corporate may also launch a collection of NFT collectibles attributed to “the strikes, the moments and the gamers” on the chess tour.

Carlsen’s curiosity in crypto might be traced again to a current chess match hosted by FTX crypto trade, the place the World Champion gained 0.6 Bitcoin (BTC) together with the $60,000 prize in money.

Along with awards, the chess group is exploring blockchain use circumstances to forestall dishonest in on-line tournaments amid the COVID-19 restrictions. Working parallel to the postponement of the 2020 Chess Candidates Event in Ekaterinburg, Russia, World Chess has beforehand explored the opportunity of shifting matches on-line through blockchain know-how.

Associated: Sports activities-themed NFTs spark gold rush as tasks increase $930M in every week

A Cointelegraph report from September reveals that tokenized sport collectibles tasks have collectively raised nearly $1 billion in funding inside every week.

Dapper Labs, the agency providing tokenized basketball collectibles NBA High Shot, introduced a $250 million funding spherical along with revealing a 30x progress in 2021.

Following go well with, Sorare, an NFT buying and selling playing cards market raised $680 million in funding led by Japanese fintech large SoftBank. With a revised valuation of $4.3 billion, Sorare plans to broaden its portfolio of soccer participant NFTs by rising partnerships with soccer leagues and associations.