An international chess tournament, Meltwater Champions Chess Bout (MCCT), has announced it will mint nonfungible token (NFT) trophies and collectibles to preserve the game'southward near defining moments forever.

The winner of the MCCT will be awarded an NFT bays, marker mainstream crypto involvement from the international chess community. The tournament'southward finals will encounter participation from grandmaster Magnus Carlsen and 9 other professional chess players, including Wesley So.

Co-ordinate to an official statement, Chess Champs will mint two editions of the Champion'due south Trophy NFT, allowing fans to obtain a replica of the bays through an online auction. Moreover, the company volition also release a serial of NFT collectibles attributed to "the moves, the moments and the players" on the chess bout.

Carlsen'southward interest in crypto tin can be traced back to a recent chess tournament hosted by crypto exchange FTX, where the earth champion won 0.6 Bitcoin (BTC) along with a $threescore,000 cash prize.

In addition to awards, the chess customs is exploring blockchain utilize cases to preclude adulterous in online tournaments amongst COVID-19 restrictions. Running parallel to the postponement of the 2022 Chess Candidates Tournament in Ekaterinburg, Russia, World Chess has previously explored the possibility of moving matches online via blockchain technology.

Related: Sports-themed NFTs spark gilded rush equally projects raise $930M in a week

Equally Cointelegraph reported in September, tokenized sport collectibles projects collectively raised nigh $i billion in funding in just one week.

Dapper Labs, a business firm offering tokenized basketball collectibles through NBA Top Shot, announced a $250 one thousand thousand funding round in add-on to revealing 30x growth in 2022.

Post-obit suit, Sorare, an NFT trading card market, raised $680 million in funding led by Japanese fintech giant SoftBank. With a revised valuation of $4.3 billion, Sorare plans to expand its portfolio of soccer player NFTs by increasing partnerships with football leagues and associations.