FIDE Embraces Crypto: Joins Avalanche Blockchain to Bring Chess to Web3
• FIDE, the International Chess Federation, is partnering with the Avalanche blockchain to bring its competitions and player rankings to Web3.
• The partnership will create operational efficiencies, such as publishing tournament data and prize pools on AVAX, as well as featured sponsors at physical chess tournaments.
• Chess is gradually embracing digital mediums with the help of crypto, as exemplified by Garry Kasparov’s NFTs and MetaChess’ play-to-earn games.
The International Chess Federation (FIDE) announced on Friday that it is partnering with the Avalanche blockchain to bring its competitions and player rankings onto Web3. This partnership is a major step forward in the gradual embrace of digital mediums within the chess world.
FIDE is hoping that this move will bring “operational efficiencies for players and federations and improve game integrity”. Through this partnership, tournament data, player rankings and prize pools will be published on the AVAX blockchain, and Ava Labs and Core, a self-custody crypto wallet, will become featured sponsors at physical chess tournaments around the world, including the World Chess Championship and Chess Olympiad.
This collaboration between FIDE and AVAX is not the first time that chess has ventured into the world of crypto. Chess legend Garry Kasparov released his first collection of NFTs earlier this month, and play-to-earn chess games such as MetaChess have been gaining popularity for much of the past year.
This partnership between the FIDE and Avalanche blockchain is a one-of-a-kind move, and one that could revolutionize the world of chess. With the help of Web3 technology, FIDE will be able to create a more unified community and strengthen ties between players, clubs, federations and FIDE. It will also streamline tournament operations, making them much more efficient and secure.
This is a very exciting time for the world of chess, and it will be interesting to see how this partnership evolves in the coming months and years. It could be the start of a new era in the game of chess, one that could see the traditional board game become even more popular than ever before.