World’s Chess Champions Compete for Bitcoin in FTX Crypto Cup



Briefly

  • World’s high chess gamers will compete for two.18 Bitcoin and a money prize of $220,000.
  • The competitors is sponsored by FTX, a cryptocurrency trade.

The world’s high chess players will compete to win 2.18 Bitcoin—$83,840 in right this moment’s value—this week at a match sponsored by cryptocurrency trade FTX.

Tomorrow, within the first match of the nine-day-long FTX Crypto Cup, Magnus Carlsen will defend his world champion title towards his longtime rival Ian Nepomniachtchi. Carlsen may also face off 15 of the world’s greatest chess gamers.

The FTX Cup is a part of the broader Meltwater Champions Chess Tour 2021, which started in November 2020 and runs for 10 months. There’s a complete prize cash pool of $1.5 million.

Sam Bankman-Fried, CEO of FTX, informed Reuters that the “chess demographic overlaps a good bit with the cryptocurrency demographic,” as each crypto and chess entice younger, tech-friendly math-lovers.

However the intense video games of chess received’t be the one factor to regulate through the FTX Cup. The crypto trade may also broadcast the Bitcoin value, which strikes far faster than a chess recreation.

FTX purchased 2.1825 Bitcoin on Monday, which was value round $100,000 on the time. It’s at present value $83,840, and can seemingly change by the top of the Cup. There’s additionally a money prize of $220,000—which is unlikely to deviate in worth by fairly as a lot.

The FTX Crypto Cup will likely be broadcast online, in addition to on TV channels TV2 and Eurosport.

However for individuals who dig crypto extra intensely than chess, there’s another. On Could 18, Chess.com introduced that crypto trade Coinbase had sponsored its personal chess match.

However in contrast to the FTX Crypto Cup, which options chess specialists, Coinbase’s match will function crypto ‘specialists.’ Confirmed contributors embrace Bitcoin hype man Anthony Pompliano, Civic and SiliconCape founder Vinny Lingham, and the previous rapper and crypto investor Logic.

Chess.com’s match will happen between June 12 and June 13. The winner sends $25,000 to a charity of their selecting.

Disclaimer

The views and opinions expressed by the creator are for informational functions solely and don’t represent monetary, funding, or different recommendation.



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