TSM – FTX Sponsorship Deal: TSM signs largest ever E-Sport sponsorship deal of $210 million with FTX Cryptocurrency

TSM - FTX Sponsorship Deal: TSM signs largest ever E-Sport sponsorship deal of $210 million with FTX Cryptocurrency
TSM - FTX Sponsorship Deal: TSM signs largest ever E-Sport sponsorship deal of $210 million with FTX Cryptocurrency

TSM – FTX Sponsorship Deal – Largest Esport Sponsorship Deal: TSM the premier global esports organization, today announced a $210 million, multi-year partnership deal split between FTX Trading Limited owners and operators of FTX.com and FTX.US respectively.

The deal according to reports is for 10-year period and worth $210 million making it largest ever Esport Sponsorship Deal.

TSM will now go by “TSM FTX” across all titles the organization competes in, including League of Legends, VALORANT, Apex Legends, and others. TSM will use the partnership money to expand globally, including new offices in Asia, Europe, and South America, and will invest in mobile gaming and other platforms. It’s also purchasing $1 million of FTX Token (FTT) to distribute among its employees and players.

TSM – FTX Trading Deal – Largest Esport Sponsorship Deal: The deal is among the largest publicly disclosed sponsorship deals for an esports team.

TSM – FTX Trading Deal: TSM signs largest ever E-Sport sponsorship deal of $210 million with FTX Cryptocurrency

With this strategic partnership, TSM FTX will embark on a new set of industry-leading initiatives and specifically seeks to invest these resources into esports and gaming over the next five years. The partnership’s strategy includes a focus on massive expansion into new platforms such as mobile, accelerating existing global reach with the opening of offices in Asia, Europe, South America and more and building on existing performance infrastructure, and increased investment in talent development. Additionally, TSM FTX will distribute cryptocurrency to each of its players and employees as well as purchasing $1 million in FTT, FTX’s native token.

“When I met Sam Bankman-Fried, I immediately knew we had to work together,” said Andy Dinh, Founder and CEO of TSM.

“Not only did TSM FTX fit perfectly as a brand, Sam is an innovative CEO that is in every way ahead of his time. Against all odds as a young ambitious entrepreneur, he has been able to disrupt markets by making smart decisions and by surrounding himself with smart people. He has proven that you can build a multi-billion-dollar business that can grow incredibly fast at scale – all while charging a fraction of what other platforms charge, and creating a culture of community and focus on social impact. This deal is extremely important to the future of our organization, but it was equally as important for me personally to partner with such a visionary leader. Just as a shared passion of gaming connects people around the world across ages, continents, and language barriers, Sam built a company that connects the world around a shared value of currency. I am extremely proud he chose to work with TSM.”

Sam Bankman-Fried, Founder and CEO of both FTX.com and FTX.US, commented on the news, “We’re really excited to work with TSM. Their team has gone above and beyond both in-game and out, and rightfully established itself as the premier team in esports. We’ve also been really impressed working with them: they have the drive, creativity, communication, and generosity that we find combined in very few places. In the end our partnerships will only be as strong as we make them, and we think that TSM will be able to help massively expand the presence of digital assets outside the traditional landscape. We’re also proud to work with them to give back to the world.”

To align with TSM FTX’s mission and focus on social impact and giving back, the partnership is set to feature a soon-to-be announced major philanthropic initiative, focused on the shared goals of increasing educational opportunities and developing financial literacy.

It comes as other digital currency and goods companies expand into esports. In the past week, Dignitas announced a partnership with digital bank QNTMPAY and G2 Esports partnered with Bondly, a platform for non-fungible tokens. Several gambling websites that use cryptocurrency as their wager have begun sponsoring gaming creators and influencers on Twitch as well.