Chess grandmaster Magnus Carlsen awarded NFT trophy after tournament win

NFT markets are a new method to innovate as the NFT boom continues.

Magnus Carlsen, the grandmaster of chess, has won a Meltwater Champions Chess Trip (MCCT) international chess competition for the very first time. To protect the most crucial moments of the game, the tournament developed a range of NFT prizes.

Carlsen spoke with Cointelegraph and revealed his thankfulness for the assistance of virtual chess tournaments by the cryptocurrency community. Carlsen pointed out MCCTs collaboration with FTX crypto exchange which allowed expert chess gamers compete for a reward of 2.1825 Bitcoins (BTC) ($ 81,000.

In addition, antiques consist of NFTs that are devoted to numerous pieces of chess (e.g. pawn or bishop) on the blockchain.

” NFTs enable the chess neighborhood to celebrate fantastic minutes and reward those who have invested a lot in the development of the game.” “With Chess Champs this is simply the beginning and I look forward seeing it evolve,” Carlsen mentioned.

Related: NFT platform Sorare valued at $4.3 B to invest in womens sports

After winning the competition, Chess Champs produced 2 identical copies of the Champions Trophy (NFT) on Ethereum blockchain. The 2nd NFT trophy was sold at 6.88 ETH, which is approximately $24,700 at time of purchase. A source claims that the NFT prize was bidded on for 11 Ether (ETH), which is roughly $24,700 at the time of purchase.

After raising $680 million from SoftBank, Sorare, a marketplace that sells NFT trading cards, has actually achieved an evaluation of $4.3 billion. Cointelegraph reported that the business plans to utilize the funding to “significantly accelerate ladiess sport advancement.”

Sorare also has collaborations with La Liga soccer league. It prepares to include top-tier soccer clubs to its NFT-based portfolio to diversify into other dream sports.
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” Its fantastic to share the prize and cheer for a passionate fan. It will be great to play a match and meet him at the Champions Chess Tour Final next season.

After winning the tournament, Chess Champs produced two similar copies of the Champions Trophy (NFT) on Ethereum blockchain. These were digitally signed and signed by Carlsen. The 2nd NFT prize was offered at 6.88 ETH, which is around $24,700 at time of purchase. A source claims that the NFT trophy was bidded on for 11 Ether (ETH), which is approximately $24,700 at the time of purchase.