Monday, October 25

The World’s Best Chess Players Compete For Bitcoin (BTC)

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At the end of a nine-day chess tournament, there is 2.18 Bitcoin (BTC) for the winners. The world’s best chess players will compete for 2.18 Bitcoin and $ 220,000 in cash prize. The competition is supported by the crypto currency exchange FTX.

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According to the news of Decrypt’s Ekin Genç, the best chess players in the world will compete to win 2.18 Bitcoin in a tournament sponsored by the crypto currency exchange FTX this week. In the first match of the nine-day FTX Crypto Cup, Magnus Carlsen will defend his world championship title against longtime rival Ian Nepomniachtchi. Carlsen will also face off against 15 of the best chess players in the world. The FTX Cup is part of the wider Meltwater Champions Chess Tour 2021, which begins in November 2020 and lasts 10 months. This tour has a total prize pool of $ 1.5 million.

FTX CEO Sam Bankman-Fried told Reuters that “the chess demography quite coincides with the cryptocurrency demography,” as it attracts tech-friendly math lovers. The FTX Crypto Cup will be streamed online alongside TV2 and Eurosport TV channels.

On the other hand, there is an alternative for those who like crypto money more than chess. On May 18, Chess.com announced that the cryptocurrency exchange Coinbase is sponsoring its own chess tournament. However, unlike the FTX Crypto Cup, which includes chess experts, Coinbase’s tournament will include cryptocurrency ‘experts’. Confirmed attendees include Anthony Pompliano, founder of Civic and SiliconCape, Vinny Lingham, and former rapper and crypto investor Logic.

Chess.com’s tournament will take place from June 12 to June 13. The winner sends it to a charity of his choice for $ 25,000.

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