Chess and crypto are becoming familiar bedfellows. They have got a love-in going on again for the upcoming FTX Crypto Cup 2022. It will be held in August in Miami, USA.
The first FTX Crypto Cup was up there with the most-watched chess tournaments via online streaming platforms.
The outfit behind the tournament is Play Magnus Group, a global chess gaming organization, and FTX, a cryptocurrency exchange. Together, they are bringing 8 of the world’s best chess players to Miami. The FTX Crypto Cup 2022 is expected to be the largest event in the Meltwater Champions Chess Tour’s history.
Sam Bankman-Fried is the CEO and Founder of FTX. “Chess is a game open to everyone and anyone, much like blockchain technology, which provides financial opportunities to everyone from those on the institutional scale to the unbanked. It will be fascinating to see how the players continue to innovate, as we always strive to do at FTX, and push the game forward during the Crypto Cup in Miami.”
In 2021, the event offered the biggest prize fund in online chess history. The FTX Crypto Cup this year will have a prize fund of $210K. This is in addition to $100K in Bitcoin, supplied by FTX.
FTX will sponsor two events. In July, the FTX Road to Miami will start on July 10 and run to July 17th. 16 players will battle it out. Players that make the cut from this round will continue on to the Tour’s next match – the FTX Crypto Cup. This will run from the 15th to the 21st of August.
Chess Players of Note
Current World Champion Magnus Carlsen is still the overall leader in the season. World number 2 Ding Liren and rising star Rameshbabu Praggnanandhaa have already qualified for the FTX Road to Miami. They placed 1st and 2nd in May’s Chessable Masters tournament.
Andreas Thome is the CEO of Play Magnus Group. “The 2021 edition of the FTX Crypto Cup received the highest press coverage of the Tour at that time. It highlighted the natural intersection of the two passionate chess and crypto communities in a thrilling tournament that saw Magnus win his first Tour event. It was a first-of-its-kind integration for both chess and sports. We are thrilled FTX has agreed to continue to expand its presence in chess by funding a physical event in Miami. This is unlike any other before-seen chess tournament.”
Chess and crypto are attracting a lot of hype. In fact, the 2022 season of the Meltwater Champions Chess Tour will open with a star-studded ceremony. Part of this will be the Tour’s first Celebrity Cup. In attendance will be celebs partnered up with Tour players in a “hand-and-brain showdown.”
This year, the FTX Crypto Cup will be giving away free NFT keys. They say, “An exclusive key will be offered for free to fans around the world. It will unlock unique fan experiences including fantasy challenges, chess activities and giveaways, and $100K in rewards and prizes. This will be distributed throughout the Summer and during the tournament.”