TSM and FTX sign “Largest Deal in Esports History”
viewr
0
share +10 coins
June 5, 2021

TSM and FTX sign “Largest Deal in Esports History”

Esports organization TSM teased and finally announced what they call the “largest deal in esports history” in a $210 million renaming deal with cryptocurrency company FTX.

TSM FTX

Hong Kong-based cryptocurrency exchange FTX worked with TSM to finalize a $210 million deal and rename the esports org to TSM FTX. Paying $21 million over ten years, marking this as arguably the most expensive deal in esports. Forbes even valued TSM FTX at $410 million last year, outranking other high-value esports companies like Cloud9 and 100 Thieves.

“Taking a huge industry and then reimagining it in a digital age: that’s sort of what esports are to sports, and it’s sort of what crypto is to investing and to finance,” FTX CEO Sam Bankman-Fried told the New York Times.

Biggest Deal in Esports

Andy “Reginald” Dinh, CEO of TSM, said he initially wanted to invest in FTX but a better deal came out instead. Now, with one of the biggest investments in sports and esports, Andy plans to use the new funding to strengthen his team’s rosters. By paying higher salaries or fielding more teams, TSM FTX will vastly increase its competitive operations. He also plans to open offices in China, Europe, and South America to spread the org’s operations.

“It gives us a strong foothold to really grow our brand globally,” Dinh said. “We want to truly be a global e-sports team. We have to invest in having bases in multiple places.”

Interestingly, Riot Games will prohibit the FTX branding on its name or uniforms for Riot titles like League of Legends and VALORANT.

The “largest deal in esports history” truly lives up the name as TSM FTX shines in the esports and cryptocurrency industry. Shedding new light on emerging technology markets like cryptocurrency exchanges and esports, this partnership combines the two fields. Fans will want to stay tuned to see the results of the new TSM FTX.

Written by Justin Amin

If you’re interested in seeing more of Esportz Network, follow our social media at Twitter, Instagram, and Facebook. We have daily podcasts at the Esports Minute and weekly interviews at the Esportz Network Podcast. Anyone can also join our community on Discord and chat about your favorite games, esports, and more!

Leave a Reply