The International Chess Federation (FIDE), the governing body of the game, said on Friday that it has partnered with the Avalanche blockchain to move its tournaments to Web3.
The Internal Chess Federation cooperates with Avalanche
According to the press release, the collaboration will improve the game and improve the productivity of players and administrators by publishing information about events and player status on the channel and supporting the competition pool through AVAX. In addition, this partnership makes Ava Labs, the team behind the Avalanche blockchain, and Core, an independent cryptocurrency wallet, prominent sponsors of televised chess tournaments. around the world, such as the World Chess Championship and the Chess Olympiad.
FIDE is connected to the Web3 connection
Emil Sutovsky, CEO of the International Chess Federation, said in a statement that chess is a unique game, and this partnership will help them improve society and improve relations between players, clubs, federations and FIDE. The growing use of digital platforms by the chess community and FIDE coincides with the Web3 connection. According to the organization, more than 25 million people play chess games online every day with more than 100 million regular players. The Tennis Federation started as a Web3 effort
Web3 and non-fungible tokens (NFTs) have lost some of their initial buzz in the public eye, but organizations like FIDE still see room for growth in the area. In August of last year, a group of tennis industry officials introduced a similar Web3 effort. Furthermore, the partnership between FIDE and AVAX is not the first time chess and cryptocurrency have been linked. In addition, chess games to earn money like MetaChess have become very popular in the last year. Chess icon Garry Kasparov released the first collection of NFTs earlier this month.