TSM Signs Landmark $210M Naming Rights Deal With FTX
TSM, one of the biggest names in esports has signed a 210M dollar deal with Crypto Exchange FTX, for ten years. That’s right, TSM(formerly Team Solo-Mid) will be known as TSM FTX for the next ten years. This comes from cryptocurrency exchanges FTX and FTX.US. We’re expecting some pretty major moves out of TSM FTX over the next few years, as they plan on expanding globally through this partnership. It’s not cheap to run an esports org after all, and there’s nothing that the team loses by adding another part to their name. The TSM FTX deal is a huge move and is one of the largest public deals in the world of esports.
Big Money Deals in Esports:
TSM isn’t the only org to sell their naming rights in recent days, but it’s the biggest move, that’s for sure. For example, Dignitas partnered with QNTMPAY and G2 Esports sold their name to Bondly (NFT platform). It’s important for your team name to not sound awful when it comes to branding, or simply just saying the words. TSM FTX sounds fine, and the deal is massive enough to make it worthwhile. G2 and Bondly? Ehh, that’s okay too I suppose. It sounds kind of weird, but it’s not as bad as Dignitas QNTMPAY.
Andy Dinh, Founder, and CEO of TSM spoke about meeting Sam Bankman-Fried of FTX and the deal:
“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.”
TSM FTX sounds fine though, and for all of their teams – League of Legends, Valorant, Apex Legends, and every other game will be known as TSM FTX. The org is planning on a massive expansion, which will include offices around the world – Asia, Europe, South America. We can also look forward to TSM mobile gaming teams, and perhaps even to consoles. This all neatly aligns with the recent word that TSM is signing a Brazilian Wild Rift team. TSM is also reportedly purchasing 1 million worth of FTX Token for their employees and players.
Back in December, it was said that TSM was valued at 410 million, so they’re likely the most valuable team in the world of esports. This just stacks more and more money on top. TSM and their parent company, Swift have a variety of investments and platforms in esports. ProBuilds, LoLCounter, BlitzApp may all sound familiar to esports fans.
This is very interesting, and a major move for TSM, that’s for sure. Joe Pompliano pointed out something fascinating when it comes to FTX. They also bought the naming rights for Miami Heat’s Arena, in a 19-year 135M deal. Conversely, TSM has a 10-year, 210M deal with FTX. While these deals aren’t the same, it’s still a very interesting thing to consider. It makes us wonder just how valuable esports is to groups like Crypto exchanges.
Is this going to become a trend? It’s a great way to generate additional funding for an esports org, and spread awareness for sure. It’s going to be an interesting few years as we keep an eye on deals like this coming to light.