The International Chess Federation builds Web3 products on Avalanche

The international chess federation FIDE has selected the AVAX blockchain as the technical basis for its planned on-chain applications for chess players.

FIDE is an international organization based in Switzerland that connects the various national chess federations and acts as the governing body for international chess competition.

The organization that oversees international chess competition, FIDE, uses Avalanche to create Web3 products. Over 500 million people play chess worldwide and FIDE tournaments such as the World Chess Championship and Chess Olympiad attract hundreds of millions of viewers.

“We are very happy to be involved in this project. Ava Labs is a major driving force behind on-chain technologies, while FIDE is constantly working to improve player engagement and experience. Chess is a unique sport and this collaboration will allow us to unite our community and strengthen the links between players, clubs, federations and FIDE.”said FIDE CEO Emil Sutovsky.

Emin Gün Sirer, CEO of Ava Labs, also made this statement in a statement: “The possibilities created by bringing chess into the channel are as limitless as chess itself. We are very excited to welcome FIDE to the Avalanche community and together usher in a new era of chess. On Avalanche, players around the world will experience chess like never before.

Avalanche’s technical solutions should be used primarily to demonstrate personalized experiences through utilities, calculate official player ratings, share tournament data on the channel, and more.

As part of the partnership, Avalanche (AVAX) and Core, a free self-service wallet, will sponsor live chess tournaments around the world, including the World Chess Championship and Chess Olympiad .

What is Avalanche (AVAX)?

Avalanche is a layer-1 blockchain platform that leverages an innovative proof-of-stake (PoS) mechanism to solve the blockchain trilemma of scalability, security, and decentralization.

Avalanche enables smart contracts to run decentralized applications (dApps) on their network. Blockchain aims to increase interoperability by integrating a range of decentralized finance (DeFi) ecosystems, including established projects such as Aave and Curve.

The platform’s native token, AVAX, is used to enable transactions across the ecosystem. AVAX is used to facilitate network transactions by collecting fees, distributing system rewards, and participating in governance.

What is FIDE?

The International Chess Federation (FIDE) is responsible for overseeing all international chess tournaments. It was founded as a non-governmental organization and was recognized as a world sports organization by the International Olympic Committee in 1999.

Although FIDE’s headquarters are currently in Lausanne, the organization was founded in Paris in 1924 under the motto “Gens una Sumus” (Latin for “We are a family”). It is currently one of the largest organizations with national chess federations representing members from 199 different nations.

Chess is now a truly global sport with tens of millions of players on every continent and an average of over 60 million games played per day.

Conclusion

The basis of today’s major Internet platforms is the accumulation of users and user data. Due to the power of network effects, as these platforms have grown, their ability to deliver value has also increased, allowing them to stay ahead.

Web3 has the potential for greater platform-wide value creation. Platforms can easily connect to larger content networks when built on an interoperable infrastructure layer, increasing the scale and variety of value they can deliver to their customers. Web3 is important because it allows people (or businesses) to trade and exchange value directly on the Internet without going through a trusted intermediary.

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