Chess Collection for FIDE World Championship Event Announced

Just ahead of FIDE World Chess Championship 2021, FIDE has decided to develop its ecosystem related to non-fungible tokens (NFTs). The Championship event is scheduled from November 24 to December 16, and just before the event, this announcement of creating the NFT ecosystem has inspiring things. 

It is important to note that FIDE represents the international chess federation, which organizes all chess competitions that happen globally. In other words, it’s a governing body looking after all major chess competitions internationally. This unique collection of NFT related to chess consists of 9000 pieces (called ChessNFT), further classified into 120 legendary pieces, 480 rare pieces, and 8400 common pieces. 

The company has already announced that due to limited supply circulation, no account can purchase more than 6 items, thereby offering the solution against the hoarding of the NFTs. The account of the collector with receive tokenized piece of chess will be allocated in a completely random manner. This means every person has an equal chance of getting items up for grabs, including the rare items.

ChessNFT will entice users and players of chess globally thanks to the integration of sports and economy rolled into one. In fact, the concept is all set to rock the game’s ecosystem with a new tokenized economy. The best part of the buying interface is that it allows buyers to buy with both cryptocurrency and fiat money, and these tokens will represent TrueNFT on the network of Everscale.

It will be interesting to witness how much enthusiasm this NFT sale will garner and how many new users will be linked to the segment of NFT in the future, particularly because of this development.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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