For the first time in chess history, Grandmaster Magnus Carlsen received the symbolic Non-Foldable Award (NFT) for winning the international chess tournament Meltwater Champions Tour (MCCT). Throughout the tournament, a number of NFT prizes and collectibles were won to preserve the most important moments in the game indefinitely.

In a speech to Cointelegraph, Carlsen shared his gratitude for the cryptocurrency ecosystem for supporting virtual chess tournaments. Chess Champion cited MCCT’s recent partnership with the FTX cryptocurrency exchange, which allowed professional chess players to compete for a cash prize of 2,1825 Bitcoin (BTC) ($ 81,079).

“NFT helps the chess community to celebrate great moments and can also reward those who have already spent a lot of time developing the game. With Chess Champs, this is just the beginning, and I look forward to developing it, says Carlsen.

Chess Champs marked two identical copies of the NFT Champion’s Trophy on the Ethereum blockchain, which was digitally signed by Carlsen after winning the tournament. The second NFT trophy was auctioned for 6.88 Ether (ETH), which is around $ 24,700 at the time of purchase. According to the source, the prices for the NFT Trophy increased to 11 Ethers ($ 27,093) after the deadline. Carlsen said:

“It’s a good feeling to share the trophy with a passionate fan. It will be fun to play a match with him and meet him in the final of the chess championship next season. ”
Inventories also include NFTs assigned to different chess pieces (such as pawnbrokers and bishops) in the blockchain.

RELATED: NFT Sorare Women’s Sports Investment Platform Worth $ 4.3 Billion

As the NFT barrier continues to close the gap between sports and digital entertainment, NFT Markets offers new opportunities for innovation.

Sorare, a marketplace for NFT trading cards, reached a valuation of $ 4.3 billion after raising $ 680 million in Series B led by Japanese fintech giant SoftBank. According to the Cointelegraph, the company plans to use the funds to “significantly accelerate the development of women’s sports”.

In addition, Sorare has also entered into a partnership with La Liga Football League and plans to join the football teams when he diversifies his NFT-based portfolio to other fantasy sports.

Source: CoinTelegraph