The world’s FIRST bitcoin chess tournament starts today The Meltwater Champions Chess Tour has kicked off the world’s first for its kind event – an elite-level bitcoin chess tournament that is being held online. The FTX Crypto Cup which starts today offers a record prize pot for an online tournament of $320,000. What is Champions Chess Tour? It is a 10-month long series of 10 online chess tournaments featuring the world's top players, playing for a prize money pool of US $1.5 million. This championship is also known to be the richest and most prestigious online chess event in history. Tesla Invests $1.5 Billion in Bitcoin, Price of Cryptocurrency Surges to $44,000.
The bitcoin chess tournament is the final Major in this season’s $1.5 million Meltwater Champions Chess Tour wherein World Champion Magnus Carlsen will take centre stage as the current Tour leader including all the world’s top 10. The FTX Crypto Cup is organised by Play Magnus Group, known to be a global leader in the chess industry, and FTX which is a leading cryptocurrency exchange. FTX has also entered into a long-term agreement with Play Magnus Group to become its Official Cryptocurrency Exchange Partner for the upcoming World Chess Championship in November 2021.
The onset and popularity of this tournament represent the simultaneous rapid growth of both online chess and digital finance. The winner of the FTX Crypto Cup will also be guaranteed a spot in the Final of the Tour in San Francisco in September this year. The FTX Crypto Cup will continue till May 31 and will be broadcast on TV2, Eurosport, and online streaming platforms such as Twitch and YouTube.