Algorand is sponsoring the FIDE World Chess Championship and the implications are huge!

This is an old news but the implications it should have are huge.

The Official World Chess Championship Set would be created as an NFT which will be minted on Algorand. This has already been announced. The opportunities that this announcement opens are immense- they can create an NFT of basically every enitity involved from players to process to things. Imagine a tournament defining move being digitised to an NFT.

They also can, going forward, provide prizes to the world champion/ and runner ups in the form of ALGO or its own tokens.

They have organized a few chess tournaments themselves, the records of which are logged into the Algorand blockchain itself. The winners would get real valued prize like subscription to the FIDE online arena; a trip to the tournament.

This partnership between a world renowned organization and Algorand is going fairly unnoticed. That said- it certainly is a stepping stone for our coin and that it has the potential to catapult the user adoption.

A fitting partnership for a smart and efficient blockchain.