Chess professionals are now fortunate enough. In one of the recent chess tournaments, the winners were rewarded with crypto and an NFT trophy. This can be considered as an example of how crypto agencies are going ahead to sponsor prodigious sports events. In May 2021, the 'Meltwater Champions Chess Tour' continued for 9 days. FTX offshoot cryptocurrency exchange financed and promoted the FTX Crypto Cup. This was the first time winners were awarded cryptocurrency prizes.
<h2>Chess Tournament &amp; Crypto </h2>
The tournament was initiated with 16 chess grand players. All these players played online on the Chess24 'Playzone.' The eight grand players succeed in the knockout phase. Magnus Carlsen defeated Teimour Rajabov and Wesley So beat Ian Nepomniachtchi to grab the position into the finals. Nepomniachtchi grabbed the third position by defeating Rajabov and secured $25,000 plus 0.25 BTC from FTX. The final round of the chess tournament reported an increased clash.

Carlsen won the chess game &amp; secured $60,000 and 0.6 BTC from the tournament sponsor. The 31-year-old Norwegian grabbed a place for the final of the Meltwater Champions Chess Tour in Oct 2021. He won $100,000 with a non-fungible token (<a href="https://www.cryptoknowmics.com/news/ronaldinho-partners-with-graph-blockchain-to-revolutionize-nfts/">NFT</a>) trophy.
<h2>Planning for the Tournament</h2>
The planning of the tour was executed by the Play Magnus Group. Applicants wrestling for the FTX Crypto Cup defied $100,000 in BTC &amp; $320,000 cash prize. For the last 10 years, Norwegian Magnus Carlsen has been the ruling world chess champion. He is the owner of 9% of the Play Magnus Group.
<blockquote>Carlsen said, "Being a big sports follower &amp; NBA enthusiast, I'm delighted to know that FTX is moving into sports. The partnership with the Champions Chess Tour is an example of the same." He added, "The tour is delightful not only as a competitor but also as a fan. I'm in a confirmed sense of motivation now. It's because I've found a partner in FTX. We're together focused to promote chess and the Tour."</blockquote>
Andreas Thome – the CEO of Play Magnus Group said crypto &amp; chess are big things together. 
<blockquote>"We join hands with the many global chess players who've been a follower of the cryptocurrencies for years. We're vigorous to enjoy the flourishing crypto industry in the FTX Crypto Cup."</blockquote>

Chess Players Wins Bitcoin Prize as Crypto Gets Through Additional Sports

Chess professionals are now fortunate enough. In one of the recent chess tournaments, the winners were rewarded with crypto and an NFT trophy

Gitumani is a blockchain enthusiast as she keeps a tab on the recent happenings pertaining to the crypto industry. She aims to provide quality content in blockchain and crypto domain. She is a financial content writer too and has worked on several financial projects related to the stock market news, fundamental research, and technical analysis for several websites.

Chess Players Wins Bitcoin Prize as Crypto Gets Through Additional Sports

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