TSM has confirmed a sponsorship deal worth $210 Million for 10 years with FTX. The partnership deal is split between FTX Trading LImited and West Realm Shires Services Inc, the owners of FTX.com and FTX.us respectively. FTX.us will be the partner of TSM in the US whereas FTX.com will be the partner of TSM internationally.
This deal is worth $210 Million and it will last for 10 complete years. This deal will cover all the TSM competitive rosters from all games. Moreover, the deal also includes renaming TSM to TSM FTX across all titles the organization competes in.
TSM will use the partnership money to expand globally including Asia, Europe, and South America. Moreover, TSM FTX will also be investing in mobile gaming and other platforms. Besides, it has also purchased $1 Million FTX tokens which will be distributed amongst its employees and players.
This deal is one of the largest sponsorship deals for an esports team.
A large number of digital currency and goods companies are expanding into esports. Moreover, several gambling websites are starting to sponsor gaming creators and streamers.
The CEO of FTX, Sam Bankman-Fried, told “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,” to the Time in an interview.
About FTX :
FTX is a cryptocurrency exchange for traders. On this exchange, major coins such as Bitcoins and Ethereum can be traded by customers. In addition, this exchange also has access to less valuable cryptocurrencies like Dogecoin, which has seen a huge social media hype in the past few months.
About TSM :
TSM is one of the most valuable organizations in all of the esports industry. Moreover, in December 2020, Forbes valued TSM at $410 Million. Besides, the parent company of TSM, Swift, brings in $45 million in annual revenue, half of which is from esports.
Esports industry is growing day by day. More and more companies are investing in esports everyday. Besides, this sponsorship deal of TSM FTX will only attract more attention towards the industry. Nonetheless, Esports in India is also growing very fast. This will also attract the sponsors towards Indian region which has comparatively less experience and audience as compared to America and Europe.