FTX Crypto Cup: Chess and crypto are furthering their relationship with the advent of the staggering prize company tournament
The world of cryptocurrency might be in upheaval at the moment owing to Elon Musk’s disruptive tactics but that isn’t deterring the players in the field from furthering their investments.
Despite an unprecedented decline in the value of bitcoin recently owing to Elon Musk’s tweets and Tesla’s denial to accept bitcoin as payment, FTX has strengthen its resolve to spearhead the discipline. The leading cryptocurrency exchange has partnered up with chess to give birth to the Crypto Cup.
FTX Crypto Cup Record Prize Money
Touted as one of the most competitive and hotly contested chess event on the global stage, the tournament sees a string of wordclass names take to it. Spearheaded by Magnus Carlsen, the competition will see all the top 10 players in the world of chess go at loggerheads for a shot at the prize.
The final Major in this season’s $1.5 million Meltwater Champion Chess Tour, the Crypto Cup will see a bonus of 100,000 dollars being offered to the winner by new sponsors FTX. The bonus provided in bitcoins will take the total winning prize money to a colossal $320,000.
Carlsen Vs Nepomniachtchi
The event promises to make for an intoxicating brew owing to its enthralling schedule. And one of the most eagerly awaited clash on the list is that of Carlsen and Nepo.
Magnus Carlsen will be facing World Championship Challenger Ian Nepomniachtchi in the Crypto Cup which begins on May 23rd, Sunday at 17:00 CEST.
World no. 2 and 2018 World Championship Challenger Fabiano Caruana will be making his Meltwater Champions Chess Tour debut. Candidates second placed Maxime Vachier-Lagrave, Alireza Firouzja, and blitz world no. 1 and New in Chess Classic second placed Hikaru Nakamura will be making their mettle felt at the competition.
It remains to be seen though if the partnership between FTX and the Crypto Cup has a positive impact on bitcoin though. A slew of people have lined up to sell bitcoin off late to plunge its value.
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