The International Chess Federation (FIDE), the organization in charge of regulating the game, <a href="https://medium.com/avalancheavax/the-international-chess-federation-brings-chess-into-web3-on-avalanche-5720f9ceb23" target="_blank" rel="nofollow noopener">declared</a> on Friday that it has teamed up with the <a href="https://www.cryptoknowmics.com/news/kkr-places-part-of-private-equity-fund-on-avalanche-blockchain">Avalanche blockchain</a> to move its competitions to <a href="https://www.cryptoknowmics.com/news/lamina1-launches-rolling-fund-for-web3-builders">Web3</a>.

https://twitter.com/FIDE_chess/status/1606320193554337792
<h2>Internal Chess Federation Collaborates With Avalanche</h2>
According to a news release, the collaboration would enhance game quality and productivity improvement for players and governing bodies by posting event information and player rankings <a href="https://www.cryptoknowmics.com/news/opensea-launches-tool-to-assist-nft-collections-enforce-fees-on-chain">on-chain</a> and hosting tournament prize pools through <a href="https://www.cryptoknowmics.com/news/avalanche-native-token-avax-listed-on-ftx-japan">AVAX</a>.

In addition, the collaboration makes <a href="https://www.cryptoknowmics.com/news/ava-labs-ceo-calls-cryptoleaks-claims-nonsense">Ava Labs</a>, the team behind the Avalanche blockchain, and Core, a self-custody <a href="https://www.cryptoknowmics.com/news/visa-intends-to-enable-automatic-bill-payments-from-crypto-wallet">cryptocurrency wallet</a>, prominent sponsors at televised chess competitions globally, such as the World Chess Championship and Chess Olympiad.
<h2>FIDE Integrates With Web3 Connections</h2>
Emil Sutovsky, CEO of the International Chess Federation, stated in a release that chess is a unique sport, and this partnership will help them to consolidate society and improve the relationships between players, clubs, federations, and FIDE.

The growing use of digital platforms by the chess community and FIDE coincides with the Web3 connections. According to the organization, more than 25 million online chess games are played daily by over 100 million regular players.
<h2>Table Tennis Federation Started as Web3 Effort</h2>
Web3 and <a href="https://www.cryptoknowmics.com/news/oneplanet-nft-marketplace-partners-with-mtdz-by-sandbox-network">non-fungible tokens (NFT)</a> have lost some of their initial buzz in the public eye, but federations like FIDE still see room for growth in the sector. In August last year, the table tennis industry's governing body started a comparable Web3 effort.

Additionally, the partnership between FIDE and AVAX is not the first time that chess has been combined with cryptocurrency. In addition, play-to-earn chess games like MetaChess have been prominent for a large portion of the last year. Chess icon Garry Kasparov released his first collection of <a href="https://www.cryptoknowmics.com/news/what-if-nfts-could-drive-tangible-positive-benefits-for-the-environment">NFTs</a> earlier this month.

International Chess Federation Integrates Avalanche And Signs Up for Web3

The International Chess Federation (FIDE) declared that it has teamed up with the Avalanche blockchain to move its competitions to Web3.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

International Chess Federation Integrates Avalanche And Signs Up for Web3

Top Picks