TSM signs $210m deal to change name with crypto exchange FTX
The TSM League of Legends team
North American esports organization TSM have agreed to a 10-year deal, worth a reported $210m, with cryptocurrency exchange FTX.
As part of the long-term arrangement, TSM will now go by the name of TSM FTX across all of the titles they compete in — including Riot Games’ LCS.
With to crypto company paying out $21m annually over 10 years, this is among the largest deals involving an esports organization to date in which a value has been disclosed.
FTX Trading Limited and West Realm Shires Services, who have entered the deal with TSM, allow people to acquire cryptocurrencies through their FTX and FTX.US platforms.
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First reported by the New York Times, fans should now expect to see TSM FTX competing across League of Legends, PUBG, Fortnite, Rainbow Six Siege, Super Smash Bros., Apex Legends, World of Warcraft, VALORANT, and Chess, among other games.
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“It gives us a strong foothold to really grow our brand globally,” said TSM CEO Andy ‘Reginald’ Dinh. “We want to truly be a global esports team. We have to invest in having bases in multiple places.”
Earlier in June 2020, TSM’s fellow LCS team Dignitas announced a naming rights deal specifically for the North American League of Legends competition. They entered a partnership with online banking company QNTMPAY and will, subsequently, compete as Dignitas QNTMPAY for the next four years.