World Chess Champion Magnus Carlsen Competed in a 1 BTC Prize Bullet Tournament

    Reigning World Chess Champion Magnus Carlsen competed in a bullet tournament with a prize pool of 1 bitcoin.

    In 2021, many celebrities across different fields got involved with the cryptocurrency space in various ways.

    Chess grandmaster Magnus Carlsen competed for the top prize of 1 Bitcoin (approximately $51,000 at the time of writing) in the bullet tournament “Agadmator CakeDeFi Christmas Arena” on the 21st of December.

    • Apart from Carlsen, the 2-hour featured some of the very best bullet players in the world, including Hikaru Nakamura, Alireza Firouzja, Andrew Tang, Daniel Naroditsky, among others.
    • The event had to halt midway due to technical difficulties. However, the open-source Internet chess server, Lichess, revealed that it will be resumed on another day with the same scores and the same remaining time of around 1 hour 15 minutes.
    • Carlsen has emerged as a crucial proponent of the space with his chess-centric events and initiatives.
    • The 31-year old Chess grandmaster had played for NFT trophies and cash prizes in Bitcoin and other crypto-assets.
    • The Norwegian chess player made history after being awarded a non-fungible token (NFT) trophy after he won an international chess tournament, Meltwater Champions Chess Tour (MCCT), in October this year. He was quoted saying,

    “It’s a nice trophy and I’m very happy to be breaking this ground.”

    • MCCT had recently entered into a partnership with cryptocurrency exchange FTX that enabled professional chess players to compete for a prize fund of 2.1825 BTC.
    • Besides, Carlsen is the world’s first Bitcoin chess champion. He recently defeated Russian Chess Grandmaster Ian Nepomniachtchi to win his 5th World Chess Championship title.
    • He had secured his first world title back in 2013.

    Featured image courtesy of ChessBase

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