Chess Players Win Bitcoin Prize As Crypto Enters More Sports

  • Magnus Carlsen won the first-ever bitcoin chess title the previous year
  • FTX offered $100,000 worth of BTC as a prize
  • Top Crypto Organizations Are Mixing With Proficient Competitors and Clubs With Growing Recurrence

Chess grandmasters have never been so cheerful. In a new chess competition, the prizes included a crypto and an NFT prize. This is just one illustration of how crypto organizations are now starting to support huge games.

The Meltwater Champions Chess Tour took place over 9 days last May. FTX’s subordinate digital currency trading supported an occasion during the visit – the FTX Crypto Cup. It was the first digital currency prize presented for the game.

Play Magnus Group coordinated the visit. Competitors competing for the FTX Crypto Cup battled it out for $100,000 in BTC and a monetary reward of $320,000. Norwegian Magnus Carlsen has been the dominant world chess champion since around 2013. He owns 9% of the Play Magnus group.

As a huge, passionate fan and lover of the NBA, I was thrilled to find that FTX is continuing its evolution into the sport by partnering with the Champions Chess Tour,” Carlsen said ahead of the occasion.

This chess title was unique

The Tour has been incredibly energizing both as a competitor and as a fan. I feel a renewed inspiration since they found an accomplice in FTX who shares our common goal of developing chess and the Tour.

Play Magnus Group CEO Andreas Thome said it was a watershed moment. They, along with many chess players from all over the planet, have long sought forms of digital money.

The competition started with 16 fantastic chess experts playing on the web in Chess24’s ‘Playzone’. Additionally, eight thousand bosses were equipped for the knockout stage. Magnus Carlsen beat Teimour Rajabov and Wesley So, crushing Ian Nepomniachtchi to advance to the final.

Nepomniachtchi took third place by beating Rajabov and got $25,000 in addition to 0.25 BTC from FTX. The last game, in any case, had considerably more conflict and drama with five games between Carlsen.

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Chess and crypto

Finally, Carlsen dominated the match by defeating So in game five. He got $60,000 and 0.6 BTC from the competition. The 31-year-old Norwegian secured a place for the last of the Meltwater Champions Chess Tour in October 2021. He overcame that too and took home an additional $100,000 with a non-fungible token (NFT) prize.

One of the most notable world chess champions, Garry Kasparov, crashed the IBM supercomputer called Dark Blue in 1996. Yet the PC delivered retribution in 1997 that changed real innovation for Kasparov.

The 58-year-old Russian fantasy chess expert shared his opinion on Bitcoin during a selective meeting with BeInCrypto in November 2019. He said that we shouldn’t fear Bitcoin because it works using the math. Administrative disorder is what is to be feared.

The growing number of crypto clients made Kasparov inspired by advanced money. As Kasparov pointed out, we need to investigate the undiscovered force of innovation rather than fight against it.

Steve Anderson
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