Chess.com to launch a new NFT marketplace with Wyre

Famous chess server, Chess.com partnered with Wyre, to launch an NFT marketplace called Treasure Chess. Users can create, buy and sell NFTs based on Chess.com via the marketplace.

Apr 27, 2022
by Anvi Saini
Chess.com to launch a new NFT marketplace with Wyre
News

Treasure Chess enables chess and crypto enthusiasts to covert their games into unique NFTs called "Treasures". Subsequently, players can easily collect, trade or sell their NFTs on the Layer 2 blockchain Polygon. 

 CEO of Treasure Chess Joseph Schiarizzi said :

"We have built the best NFT experience and most innovative cryptocurrency onboarding stack ever created: there are direct fiat onramps with our partner Wyre, there is no need to buy cryptocurrency to participate but you’re still able to earn, users have secure logins through their existing online accounts."

Firstly, users sign in with their Chess.com accounts, after this, the platform generates an Ethereum Address. Thanks to Wyre, players can purchase stablecoin USD Coin ( USDC) with debit cards in order to purchase NFTs without the need for a separate wallet.

Each player can mint a single game twice. Furthermore, the first three treasures are completely free to mint. After this, minting a treasure will cost $5. Notably, when a creator sells their Treasure for the first time, they receive 100% of the money. Following that, creators and sellers receive 95% of the proceeds from any subsequent sale. Besides that, if you sell a Treasure, you receive 90% of the sale price, while the original player receives 5% royalties.

Also, every Treasure displays the top three achievements of the game's Minter during the game. Points are assigned to achievements based on how difficult they are to complete.

Treasures have four levels: Good, Great, Ultra, and Mythic.

Lastly, treasures don't exist in Treasure Chess only. To further explain, the treasures live on a decentralized network which employs ERC - 721. To mint an NFT you can select the game, then name your NFT and simply click 'Mint'. However, after minting the NFT you cannot rename it. Similarly, to sell the treasure, there is a 'Listing Menu' where the owner can input the price for that NFT.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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