This championship is regarded as the richest and most prestigious online chess event in history.
Meltwater Champions Chess Tour -- a first-of-its-kind online elite-level bitcoin chess tournament -- is currently underway. The FTX Crypto Cup, which starts today, offers a record prize money for an online tournament of $320,000 (Rs 2.3 crore).
The 10-month long series of 10 online chess tournaments is featuring the world's top players. This championship is regarded as the richest and most prestigious online chess event in history.
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 being organised by Play Magnus Group, a global leader in the chess industry and leading cryptocurrency exchange FTX.
FTX has signed 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.