Play Magnus Group (PMG) - Chess Arrives in Miami with the FTX Crypto Cup 2022

OSLO, Norway, July 5, 2022 /PRNewswire/ -- Play Magnus Group, a global leader in the chess industry, and FTX, a leading cryptocurrency exchange, will bring 8 of the world's best chess players to Miami in August with the FTX Crypto Cup 2022 which is set to be the biggest event in the history of the Meltwater Champions Chess Tour.

The Meltwater Champions Chess Tour will cross the midpoint of its 2022 season with two events presented by FTX. In July, the FTX Road to Miami from July 10th to July 17th will set the stage and determine the players for the Tour's next Major, the FTX Crypto Cup, which will be held live in Miami from August 15th to August 21st.

The FTX Road to Miami in July will see 16 players compete for the coveted final spots at the FTX Crypto Cup in August. Currently world number 2 Ding Liren and young star Rameshbabu Praggnanandhaa have qualified by placing 1st and 2nd respectively in May's Chessable Masters tournament, with World Champion Magnus Carlsen in a comfortable position to qualify as the current overall leader in the season.

At the FTX Crypto Cup in August, the world's best chess players will compete in Miami from the Eden Roc Miami Beach across 7 days of competition for the largest prize fund in the Tour season and vital points in the overall Tour 2022 season standings. The FTX Crypto Cup will feature a prize fund of $210K plus an additional $100K tied to the price of bitcoin provided by FTX.

"The 2021 edition of the FTX Crypto Cup received the highest press coverage of the Tour at that time, and highlighted the natural intersection of the two passionate chess and crypto communities in a thrilling tournament that saw Magnus win his first Tour event, and first of its kind integrations for both chess and sports. We are thrilled FTX has agreed to continue to expand their presence in chess by funding a physical event in Miami unlike any other before-seen chess tournament." said Andreas Thome, CEO of Play Magnus Group.

As part of the FTX Crypto Cup, an exclusive key will be offered for free to fans around the world that will unlock unique fan experiences including fantasy challenges, chess activities and giveaways, and $100K in rewards and prizes which will be distributed throughout the Summer and during the tournament. Anyone can claim the key for free by visiting https://ftxcryptocup.com/ and claiming the free NFT with their FTX wallet.

The event will be the second Major of this season's Meltwater Champions Chess Tour and kick off with a starstudded opening ceremony at the Eden Roc Miami Beach on August 14. At the opening ceremony, the Tour's first Celebrity Cup will feature celebrities paired with Tour players in a hand and brain showdown.

"Chess is a game open to everyone and anyone, much like blockchain technology, which provides financial opportunities to everyone from those on the institutional-scale to the unbanked. It will be fascinating to see how the players continue to innovate, as we always strive to do at FTX, and push the game forward during the Crypto Cup in Miami." said CEO and Founder of FTX, Sam Bankman-Fried.

FTX is the Official Cryptocurrency Exchange Partner of the Meltwater Champions Chess Tour and was the title partner of the FTX Crypto Cup in the inaugural season of the Tour in May 2021. The event featured the largest prize fund in online chess history and celebrated the growth of crypto and chess through unique broadcast integrations and more. The inaugural FTX Crypto Cup was one of the most watched chess tournaments on online streaming platforms and was won by World Champion and current 2022 Tour leader Magnus Carlsen.

Play Magnus Group is a global leader in the chess industry focused on providing premier digital experiences for millions of chess players and students. The company offers elearning and entertainment services via its market leading brands: chess24, Chessable, iChess, New In Chess, Everyman Chess, Silver Knights, CoChess, Aimchess, the Play Magnus App Suite, and the Meltwater Champions Chess Tour. The Group's mission is to grow chess to make the world a smarter place by encouraging more people to play, watch, study, and earn a living from chess.

Play Magnus Group is listed on Euronext Growth Oslo under the ticker PMG and OTCQX® Best Market under the ticker PMGMF. For more information visit pmg.me.

FTX is a crypto asset trading platform built by traders, for traders. FTX strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative trading platform in the industry.

To learn more about FTX.COM, please visit: https://ftx.com/

FTX.COM is not available to US residents or residents of other prohibited jurisdictions, as set out in its Terms of Service.

FTX US is a US-regulated cryptocurrency exchange, built from the ground up. Its mission is for FTX US to grow the digital currency ecosystem, offer US and international traders a platform that inspires their loyalty, and to become a market-leading US-regulated cryptocurrency exchange.

To learn more about FTX US, please visit: https://ftx.us/

For further comments, contact

Arkus Fredriksson, Chief Strategy Officer, Play Magnus Group
[email protected]         

Arne Horvei, Tour Director, Play Magnus Group
[email protected]

Jay Morakis, CEO of M Group Strategic Communications (for FTX)

[email protected]

SOURCE FTX