The Meltwater Champions Tour (MCCT) Chess Tour has announced that it will mint Inflatable Tokens (NFT) and collectibles to preserve the game’s most important moments forever.

The winner of the MCCT will receive the NFT Prize, celebrating the active participation of the international chess community in cryptocurrency. Grandmaster Magnus Carlsen and nine other professional chess players, including Wesley So, will participate in the tournament final.

According to the official announcement, Chess Champs will be releasing two copies of Champion’s Trophy NFT for fans to receive a copy of the trophy in an online auction. In addition, the company will also release a series of NFT collectibles related to the “moves, moments and players” of the chess journey.

Carlsen’s interest in cryptocurrency can be traced back to the recent chess tournament organized by crypto exchange FTX, in which the world champion won 0.6 bitcoin (BTC) along with a cash prize of $60,000.

In addition to the prizes, the chess community is exploring the use of blockchain to prevent online tournament fraud amid COVID-19 restrictions. In parallel with the postponement of the 2020 Candidates Chess Championship in Yekaterinburg, Russia, the chess world has previously explored the possibility of transmitting matches online using blockchain technology.

RELATED: Sports-themed NFTs cause gold rush as projects raise $930 million in one week

As Cointelegraph reported in September, token esports fundraising projects raised nearly $1 billion in just one week.

Dapper Labs, the company that provides collectors of basketball tokens through the NBA Top Shot, has announced a $250 million funding round with 30-fold growth in 2021.

Subsequently, NFT trading card marketplace Sorare raised $680 million in funding led by Japanese fintech giant SoftBank. With a revised estimate of $4.3 billion, Sorare plans to expand the NFT’s portfolio of footballers by expanding partnerships with football associations and associations.

Source: CoinTelegraph