Magnus Carlsen was awarded the NFT Trophy for winning an international chess tournament.

Magnus Carlsen, the first chess grandmaster to be granted an NFT (non-fungible token) trophy for winning an international chess tournament, has won a slew of events during his career. The organizers of the Meltwater Champions Chess Tour (MCCT) wanted to do something different to remember the game’s/most tournament’s memorable moments, so they chose to add NFT trophies and collectibles (such as chess pieces like a pawn and a queen) in the chess fan prize pool.

The organizers accomplished this by having two identical versions of the Champion’s Trophy NFT digitally autographed by Carlsen after he won the tournament. The first trophy was preserved by Carlsen, but the second was auctioned off for 6.88 ETH, or around $24,700 (about Rs. 18,64,088 at the time of purchase).

Carlsen expressed his gratitude to the tournament organizers for their support of virtual chess competitions, mentioning the recent cooperation between MCCT and the FTX crypto exchange, which gave participating chess players the chance to win 2.1825 BTC (roughly Rs. 94,35,743).

It’s also worth mentioning that after the deadline expired, bidding for the NFT award allegedly increased to 11 ETH, or $27,093 (approximately Rs. 20,44,397).

In addition to adopting NFTs as prizes, chess governing bodies are looking into using blockchain technology as an “anti-cheating tool” in online chess competitions.

Meanwhile, Carlsen is no news to the crypto realm on his own. Earlier this year, the chess legend established his own NFT collection, Bongcloud.art, on the OpenSea NFT platform. The chess prodigy sells 69 different games, including chess opening variants like the Bongcloud and Greek.