Chess grandmaster Magnus Carlsen has won many tournaments in the course of his career and is now the first to receive an NFT trophy (non-fungible token) for winning an international chess tournament. Wanting to find an innovative way to commemorate the game / tournament’s most defining moments, the tournament organizers of the Meltwater Champions Chess Tour (MCCT) decided to include NFT trophies and collectibles (such as pawn and queen chess pieces) in the prize pool for chess fans.
This was implemented by the organizers in such a way that after winning the tournament there were two identical editions of the Champion’s Trophy NFT, which were digitally signed by Carlsen. While Carlsen kept the first trophy, the second auctioned off for 6.88 ETH, which is about $ 24,700, or roughly Rs. 18,64,088 at the time of purchase.
Carlsen told tournament organizers that he values crypto companies for supporting virtual chess tournaments, and brought up the recent partnership between the MCCT and FTX Crypto Exchange that enabled competing chess players to win 2.1825 BTC (approximately 94.35.743 rupees).
It’s also worth noting that bidding for the NFT trophy has reportedly crept to 11 ETH, or $ 27.093 (around $ 20.44.39) after the deadline.
Chess federations are not only examining NFTs as awards, but are also examining ways of using blockchain technology as an “anti-cheating tool” in online chess tournaments.
Carlsen, on the other hand, is no stranger to the crypto world. The chess superstar launched his own NFT collection on the OpenSea NFT platform earlier this year, which he called Bongcloud.art. The Schachwunder sells 69 unique games, in particular with chess opening variants of the Bongcloud and the Greek openings.
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