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FIDE, the International Chess Federation, has become the first global sports federation to launch its own NFT marketplace. It announced a partnership with core developers of FreeTON, TON Labs, to launch ChessNFT.com – a new chess non-fungible token (NFT) ecosystem.

Full marketplace functionality is scheduled for later this month, to coincide with the upcoming World Championship in Dubai. ChessNFT hopes that it will attract a new generation of players and enthusiasts to blockchain technology.

Users will be able to bid on and purchase chess-related NFTs featuring iconic match moments, unique collectibles, chess related art, and much more. The platform’s interface can be used to accept fiat as well as cryptocurrencies.

Most interestingly, these NFTs will be in the new TrueNFT format on the Everscale Network. Everscale is the new name of the FreeTON network, which was recently rebranded. TrueNFTs offer a variety of advantages over other formats, but the main feature must be the storage of media files on the blockchain.

FIDE’s decision to partner with the Everscale Network is a great coup for the blockchain, and recognises its potential to process global transactions on a massive scale. Multi-threading capabilities of the network enable multiple workchains that dynamically scale to meet user demands.

This isn’t chess’s first dalliance with the world of NFTs, as last month Magnus Carlsen won an NFT trophy in the Meltwater Champions Chess Tour. The winner was also eligible to play with Carlsen in a replica trophy.

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