Grandmaster Magnus Carlsen chases a nonfungible trophy

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A world chess match, Meltwater Champions Chess Tour (MCCT), has introduced it should mint nonfungible token (NFT) trophies and collectibles to protect the sport‘s most defining moments perpetually. 

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

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In response to an official assertion, Chess Champs will mint two editions of the Champion’s Trophy NFT, permitting followers to acquire a duplicate of the trophy via a web-based public sale. Furthermore, the corporate may even launch a sequence of NFT collectibles attributed to “the strikes, the moments and the gamers” on the chess tour.

Carlsen’s curiosity in crypto may be traced again to a latest chess match hosted by crypto trade FTX, the place the world champion won 0.6 Bitcoin (BTC) together with a $60,000 money prize.

Along with awards, the chess group is exploring blockchain use circumstances to stop dishonest in on-line tournaments amid COVID-19 restrictions. Working parallel to the postponement of the 2020 Chess Candidates Match in Ekaterinburg, Russia, World Chess has beforehand explored the possibility of moving matches online by way of blockchain know-how.

Associated: Sports-themed NFTs spark gold rush as projects raise $930M in a week

As Cointelegraph reported in September, tokenized sport collectibles tasks collectively raised virtually $1 billion in funding in only one week.

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

Following swimsuit, Sorare, an NFT trading card marketplace, raised $680 million in funding led by Japanese fintech large SoftBank. With a revised valuation of $4.3 billion, Sorare plans to develop its portfolio of soccer participant NFTs by rising partnerships with soccer leagues and associations.