International Chess Federation Examines Web3 Integrating Avalanche
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.