With the new cooperation, the worldwide chess authority intends to integrate the game’s 500 million participants into Web3.
Friday, the International Chess Federation (FIDE), the sport’s governing body, announced a partnership with the Avalanche blockchain to bring chess tournaments on Web3.
According to a press release, the cooperation would offer “operational efficiencies for players and federations and promote game integrity,” including posting event statistics and player rankings on-chain and AVAX-hosted tournament prize pools.
Ava Labs, the developers of the Avalanche blockchain, and Core, a self-custody cryptocurrency wallet, are also prominent sponsors at physical chess competitions throughout the globe, such as the World Chess Championship and Chess Olympiad.
“Chess is a unique sport, and this partnership will enable us to unite our community and improve links between players, clubs, federations, and FIDE,” said FIDE CEO Emil Sutovsky in a statement.
FIDE’s Web3 connections parallel the chess world’s progressive use of digital platforms. According to the organization, approximately 100 million individuals play online chess on a daily basis and engage in over 25 million virtual chess matches every day.
Despite waning interest in Web3 and non-fungible tokens (NFT) in recent months, federations such as FIDE still see growth potential in the business. In August of last year, the table tennis governing body started a similar Web3 campaign.
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