The FIDE will launch a global sports NFT market on FreeTON
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FIDE, the International Chess Federation, has become the first global sporting federation to launch an NFT market. A partnership with the core developers of the network has been announced
Everscale Network
(formerly FreeTON) and TON Labs, to launch ChessNFT.com – a new support system for non-fungible tokens (NFT). The market is scheduled to be fully operational later this month, to coincide with the upcoming World Championships in Dubai.
ChessNFT will be the first of a new demographic in the blockchain world, and will appeal to both chess players and fans alike. Users will be able to bid on and purchase chess-related NFTs showcasing iconic match moments, unique collectibles, chess-related art, and more. The platform's interface will accommodate the use of both fiat currencies and cryptocurrencies.
More excitingly, these NFTs will be in the new TrueNFT format on the Everscale network. Everscale is the new name of the recently rebranded FreeTON network.
TrueNFTs bring a number of benefits over existing formats, although the headline advantage should certainly be storing the actual media files on the blockchain itself. FIDE's decision to partner with Everscale Network is a significant advance for the blockchain network, recognizing its potential to process global transactions on a large scale. This is made possible by multi-threaded network features that enable multiple threads that dynamically scale to meet user demand.
This isn't Chess's first foray into the world of NFTs, as last month Magnus Carlsen won the NFT Cup on the Meltwater Champions Tour. A replica of the trophy was also auctioned off, with the winner also getting the chance to play for Carlsen. Source
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