The rapper, who’s half of hip hop duo Rae Sremmurd, has invested an undisclosed sum in recently-launched organization XSET.
Launched by former executives at FaZe Clan, XSET pride themselves on diversity and being free of the “frat house culture” present in other organizations.
Swae Lee initially told Rolling Stone that he had invested eight-figures in XSET, though the organization later explained that that wasn’t the case but didn’t disclose a solid figure.
The rapper and XSET members gathered at the Triller house on October 22 to celebrate the launch of his latest single, prior to announcing his official involvement. As you’d perhaps expect, they played games live on the org’s Twitch channel.
The report states that further deals with recording artists are in the works, as well as with athletes, and are due to be announced in the coming months.
“I always wanted to be on what’s next. There’s a network of people like myself who want to bring simple access for fans,” Swae Lee said regarding his decision to invest.
“XSET, FaZe, they have fans who like to do the same things I like to do, sit at home on a game and be lazy. I want to help make a huge network for all the kids to enjoy gaming, talk about life, talk smack to each other, get merch and have first-person access to rappers.”
Following FaZe Clan initiating president Greg Selkoe’s exit in January 2020, he and a couple of colleagues launched XSET in July. Serving as the CEO, he’s joined by vice president of apparel, Wil Eddins, and vice president of business development, Clinton Sparks.
Rappers and esports organizations have been coming together for quite some time now. Notable moves include Drake with 100 Thieves, Wiz Khalifa with Pittsburgh Knights, Pusha T and Logic with Chaos EC, and Offset with FaZe Clan.