A novel chess tournament in Brazil is incorporating the world of cryptocurrencies by awarding its winners with non-fungible tokens (NFTs).
According to the Brazilian news source Livecoins, this “nationwide” event is being orchestrated by a fintech company called Inkluziva. The tournament invites participation from students enrolled in the national education system, with age groups starting from six years onward.
The competition is divided into five age brackets, ensuring that by its conclusion on November 25, there will be five national champions in total.
A unique twist to the reward system is that each winner will be presented with a “customized NFT” that captures and immortalizes the final move of their victorious match.
While digital rewards are in the spotlight, the organizers haven’t entirely discarded the traditional appeal of tangible prizes. Alongside the unique NFTs, winners will also be awarded physical trophies to commemorate their achievements.
But the integration of NFTs doesn’t stop with the winners. The organizers have incorporated more opportunities for participants to obtain these digital assets. Every participant will receive an NFT certificate acknowledging their participation, and top performers from different regions will also be rewarded with special NFTs.
Inkluziva mentioned that the preliminary rounds leading up to the finals would be hosted online through the Chess.com platform.
They’ve aptly named this blend of tradition and technology the “Inkluziva School Chess Tournament.” Further detailing the structure, Inkluziva revealed there would be five separate online qualifiers, each representing different geographical areas of Brazil.
The competition’s structure will encompass all major regions of Brazil: North, Northeast, South, Southeast, and Midwest.
However, the climax of this digital-heavy event has a traditional twist. Champions from these regions will converge in the capital, Brasilia, for an in-person grand finale, allowing a direct “face-to-face” contest to determine the ultimate winners.
Inkluziva’s mission goes beyond just hosting a tournament. The company aims to elevate the standard of Brazilian chess. Additionally, through this event, Inkluziva aspires to foster both “cultural and social exchange,” bridging technology, tradition, and community in a unique blend.
Brazilian Chess: A Winning Move for NFTs?
Brazil is witnessing a rising wave of digital adoption.
Recently, Santos FC, among the nation’s leading football (soccer) teams, shared plans to integrate its fan token within the gaming sector.
In another significant move, the digital-forward bank, Nubank, revealed its recruitment of David Marcus, previously overseeing Meta’s now-paused cryptocurrency and stablecoin ventures.
Globally, the influence of NFTs is becoming evident in traditional sectors. Just a few weeks ago, the esteemed auctioneer, Sotheby’s, based in New York, unveiled a new NFT platform. This marketplace offers customers a chance to acquire handpicked NFTs, anchored on the Ethereum and Polygon blockchains.
