Chess grandmaster Magnus Carlsen receives NFT trophy after winning the tournament

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For the first time in chess history, Grandmaster Magnus Carlsen was awarded a Non-Fungible Token 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 to keep key moments in the game indefinitely.

Speaking to 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 allowed professional chess players to compete for a prize fund of 2,1825 Bitcoin (BTC) ($ 81,079).

“NFTs help the chess community celebrate great moments and may also reward those who have invested so much time in growing the game. It’s just getting started at Chess Champs and I’m looking forward to seeing it develop, ”said Carlsen.

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

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

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

Related: The NFT platform Sorare, valued at $ 4.3 billion, invests in women’s sports

As the NFT boom continues to bridge the gap between sports and digital entertainment, NFT marketplaces offer new avenues for innovation.

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

In addition, Sorare has also partnered with the La Liga soccer league and plans to bring world-class soccer teams on board to diversify its NFT-based portfolio offerings into other fantasy sports.