Chess grandmaster Magnus Carlsen receives an NFT trophy after winning the international Meltwater Champions Chess Tour tournament

For the first time in chess history, Grandmaster Magnus Carlsen received an indispensable trophy (NFT) for winning an international chess tournament, the Meltwater Champions Chess Tour (MCCT).. The tournament has shaped a number of NFT trophies and collectibles in order to preserve crucial moments in the game indefinitely.

In conversation with Cointelegraph, Carlsen shared his appreciation for the cryptocurrency ecosystem for supporting virtual chess tournaments.. The chess master cited MCCT’s recent partnership with the FTX crypto exchange, which enabled professional chess players to compete for a purse of 2,1825 Bitcoin (BTC) ($ 81,079).

NFTs help the chess community celebrate great moments and may also reward those who have already invested so much time in growing the game. At Chess Champs, it’s just getting started and I’m excited to see how it develops, ”says Carlsen.

Chess grandmaster Magnus Carlsen receives an NFT trophy after winning the international Meltwater Champions Chess Tour tournament
Chess grandmaster Magnus Carlsen receives an NFT trophy after winning the international Meltwater Champions Chess Tour tournament

Chess Champs minted two identical editions of the NFT Champion’s Trophy on the Ethereum blockchain, which were digitally signed by Carlsen after winning the tournament. The second NFT trophy was auctioned at 6.88 ETH, approximately $ 24,700 at the time of purchase. After the deadline, bids on the NFT trophy rose to 11 ethers (ETH) ($ 27,093), according to a source. Carlsen said:

“It’s great to share the trophy with a passionate fan. It will be interesting to play a game with him and meet him at the Champions Chess Tour final next season.

Collectibles also include NFTs dedicated to various chess pieces (such as the pawn and bishop) on the blockchain..

As The rise of NFT continues to bridge the gap between sports and digital entertainment, NFT markets open new avenues for innovation.

Sorare, an NFT card trading market, reached a valuation of $ 4.3 billion after raising $ 680 million in Series B funding led by Japanese financial technology giant SoftBank. As Cointelegraph reported, With this funding, the company wants to “significantly accelerate the development of women’s sport”.

What’s more Sorare has also partnered with the La Liga football league and plans to include senior football teams. as it diversifies its NFT-based portfolio into other fantasy sports.

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