NFTs are gradually finding a niche in all aspects of life, recently, grandmaster Magnus Carlsen has been awarded a nonfungible token (NFT) trophy for winning an international chess tournament.
Grandmaster Magnus Carlsen has been awarded a nonfungible token (NFT) trophy for winning an international chess tournament, the Meltwater Champions Chess Tour, for the first time in chess history (MCCT).
To eternally preserve the game’s most defining moments, the tournament produced a number of NFT awards and memorabilia.
Carlsen expressed his gratitude to the cryptocurrency ecosystem for supporting virtual chess tournaments in an interview with Cointelegraph.
The chess champion mentioned MCCT’s recent collaboration with FTX, which allowed professional chess players to fight for a prize pool of 2.1825 Bitcoin (BTC) ($81,079).
“NFTs allow the chess community to commemorate significant events while also rewarding those who have already committed so much work in the game’s development.” “This is only getting started with Chess Champs, and I’m excited to watch how it develops,” Carlsen added.
On the Ethereum blockchain, Chess Champs issued two identical editions of the Champion’s Trophy NFT, which were digitally signed by Carlsen after he won the competition.
The second NFT trophy was auctioned off for 6.88 ETH (about $24,700 at the time of purchase), which was about $24,700 at the time of acquisition.
According to a source, after the deadline, the bidding for the NFT trophy increased to 11 Ether (ETH) ($27,093). According to Carlsen,
“It feels great to share the trophy with a passionate fan. It will be interesting to play a match with him and meeting him during the next season’s Champions Chess Tour Final.”
NFTs dedicated to various chess pieces (such as the pawn and bishop) on the blockchain are also collectibles.
NFT marketplaces provide new ground for innovation as the NFT boom continues to bridge the gap between sports and digital entertainment.
After obtaining $680 million in Series B funding spearheaded by Japanese fintech giant SoftBank, Sorare, a marketplace for NFT trading cards, was valued at $4.3 billion. The company wants to utilize the funds to “substantially accelerate the growth of women’s sports.
In addition, as it expands its NFT-based portfolio offers to other fantasy sports, Sorare has secured partnerships with the La Liga soccer league and wants to enrol top-tier soccer teams.
