I think it's before there were official titles, they were given to people considered strong enough.
Did you know a "Honorary Master" FIDE title exists?
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I just discovered this player on FIDE: http://ratings.fide.com/card.phtml?event=4603850
Surpisingly, I've been unable to locate any information about this title on the FIDE website, or even any other players with it.
Any ideas on what this is?