Magnus Carlsen, NFT

Chess grandmaster Magnus Carlsen given with the NFT trophy, after tournament win

alsoGrandmaster 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 indefinitely preserve the game’s most defining moments, the tournament produced a number of NFT trophies and collectibles.

Carlsen expressed his gratitude to the cryptocurrency ecosystem for supporting virtual chess tournaments in an interview. The chess champion mentioned MCCT’s recent collaboration with FTX, which allowed professional chess players to compete for a prize pool of 2.1825 Bitcoin (BTC) ($81,079).

“NFTs help the chess community celebrate great moments and possibly also reward those. That have already invested so much time in growing the game. With Chess Champs, this just getting started and I look forward to seeing it evolve,” Carlsen said.

On the Ethereum blockchain, Chess Champs minted two identical editions of the Champion’s Trophy NFT. Which digitally signed by Carlsen after he won the tournament. The second NFT trophy was auctioned off for 6.88 Ether (ETH), which was about $24,700 at the time. According to a source, after the deadline, the bidding for the NFT trophy increased to 11 Ether ($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 different chess pieces on the blockchain

NFT marketplaces provide new ground for innovation as the NFT boom continues to bridge the gap between sports. And also digital entertainment.

Sorare, a marketplace for NFT trading cards, has raised $680 million in Series B funding led by Japanese fintech giant SoftBank. And valuing the company at $4.3 billion. Moreover, the company plans to use the funds to “significantly accelerate the development of women’s sports,” according to Cointelegraph.

In addition, as it expands its NFT-based portfolio offerings to other fantasy sports. Moreover, it has secured partnerships with the La Liga soccer league and plans to onboard top-tier soccer teams.