Today the first authorized NFT series of world chess champions has been minted! World chess champions, NFT and blockchain? What is that supposed to mean? You may have heard that NFTs can establish ownership of digital art: In March 2021, an NFT by digital artist Beeple fetched the auction value of $69 million at Christie's. However the NFTs of the world chess champions are not about crazy auctions, but about honoring outstanding chess achievement. In a series that currently consists of 14 entries, the classic world champions are now immortalized with selected games. The unique thing about this series is that many players participate through their authorization. This makes it the first of its kind in history.
NFTs and the Blockchain
NFTs are more than just a technically exciting twist of contemporary art. Their significance is much more fundamental. NFTs are about to become the essential form of ownership in the digital world. There are those who say that the explosive development of NFTs may become more important than the Internet.
The acronym NFT stands for "Non Fungible Token." NFTs can forever record ownership of things as diverse as artwork, real estate, music, or even used cars. They are stored in a blockchain.
Why are NFTs written into a "blockchain"? The blockchain is one of the greatest technical innovations of our time because it establishes indestructible and unforgeable accounting. Deeds can be stolen, lost or burned. Databases on servers can be attacked and manipulated by hackers. A blockchain, on the other hand, is distributed worldwide on thousands of computers that monitor each other, making it the most secure storage of information ever. One can confidently say: What is once written in a recognized blockchain like "Ethereum" will be valid for eternity.
Continue reading: https://en.chessbase.com/post/the-champions-in-the-blockchain
NFTs and the Blockchain
NFTs are more than just a technically exciting twist of contemporary art. Their significance is much more fundamental. NFTs are about to become the essential form of ownership in the digital world. There are those who say that the explosive development of NFTs may become more important than the Internet.
The acronym NFT stands for "Non Fungible Token." NFTs can forever record ownership of things as diverse as artwork, real estate, music, or even used cars. They are stored in a blockchain.
Why are NFTs written into a "blockchain"? The blockchain is one of the greatest technical innovations of our time because it establishes indestructible and unforgeable accounting. Deeds can be stolen, lost or burned. Databases on servers can be attacked and manipulated by hackers. A blockchain, on the other hand, is distributed worldwide on thousands of computers that monitor each other, making it the most secure storage of information ever. One can confidently say: What is once written in a recognized blockchain like "Ethereum" will be valid for eternity.
Continue reading: https://en.chessbase.com/post/the-champions-in-the-blockchain
