FaZe Clan has secured a $30 million CAD loan agreement heading into 2020, the esports and entertainment giant announced this week, after entering a convertible loan facility with one of Canada’s leading credit providers.
As one of the biggest names in esports, and entertainment, FaZe has certainly risen high since its inception in 2010. Once a simple gaming clan sharing highlight reels on YouTube, the company has grown into a multi-title esports empire.
Now, with the help of financial advisor Canaccord Genuity, the gaming clan has secured a whopping C$30 million loan — an estimated US$22.7m, or £17.3m — to help them continue to expand their gaming empire well into the new decade.
FaZe’s CDL roster, Atlanta, kick-started their 2020 campaign with a 2–0 record at the Armory.
According to Head of Esports Erik Anderson, anything on a grand scale like that are “a bit further off” for the gaming empire that started as FaZe Sniping a decade ago, especially considering the global reach of their rosters.
“I get why some of the teams are putting those facilities in place. [However], there’s ample boot camp space out there for our teams to use [while] traveling the world.” Anderson told the Esports Observer in late 2019.
FaZe had to consider its “many players around the world,” Anderson explained, and added “until [the clan] consolidates everybody in one place,” the org would steer clear of building developments: “We don’t think it’s fully necessary.”
FaZe Clan compete in a host of esports, with teams across Europe and the Americas.
Those stars around the world come in all shapes and sizes for FaZe. As well as competing in titles like Fortnite and FIFA, the clan competes on multiple fronts in Rainbow Six, on the CSGO circuit, and in the newly-franchised Call of Duty League.
The org’s CDL team kick-started their new life as Atlanta FaZe just over a week ago, edging the New York Subliners 3–1 after dismantling preseason contenders Dallas Empire 3–0 to take the top spot alongside the Chicago Huntsmen.
FaZe’s Counter-Strike is also poised to walk a new road in 2020, with the BLAST Premier Spring season opener chalked for Friday evening. The European roster, helmed by Nikola ‘Niko’ Kovač, will face Ninjas in Pyjamas first up.
2019 has been an unforgettable time for FaZe Clan, with countless new memories made across the world to celebrate forever… and none of it would be possible without the new faces who joined us this year.
Despite any success and disappointment in and out of the gaming world, there can be no denying FaZe is thriving as one of the biggest esports and entertainment orgs in the world, especially considering this recent cash injection.
The clan currently boasts 4.26 million followers on Twitter—the most of any gaming team around the world—and doesn’t look like slowing down any time soon. Keep your eyes peeled for what’s next from FaZe and their new loan.
A trend that’s emerged over the past couple of years in esports is organizations rebranding, but why do they deem it necessary to change a visual identity they’ve had in place for years? It’s considered counter-intuitive to some, but there are some merits to a brand refresh.
When it comes to selling your company and its services or products, branding is a crucial decision. It communicates your company and its offering to the audience you’re looking to tap into, hopefully providing a connection point and keeping it top of mind when prospective consumers are scouring the market.
In an industry that’s predicated on competition, there’s additional nuance. There’s a need in esports and sports alike to create an identity that fans can root for; a brand that’s relatable or aspirational that helps to foster long-term supporters.
In 2020 alone, over a dozen prominent entities in the esports industry opted to ditch their logo (and in some cases, their company’s entire identity) in place of something fresh. There are plenty of reasons these decisions were made.
Why do esports organizations keep rebranding?
If any organization knows what it’s like to upset a diehard fan base due to a rebrand, it’s Evil Geniuses.
The conception of esports happened at different times, depending on who you ask, but it’s very clear that entities housing competitive players really started to emerge in the early 2000s. At this time, though, these teams were made up of friends who enjoyed playing alongside each other — it was remarkably rare for a tournament to have the life-changing financial incentives that are commonplace today.
These teams weren’t established as multi-million dollar companies or media giants, and thus time and resources weren’t funneled into branding. These organizations, which were actually just gaming clans, were simply a product of the times. As the industry has professionalized and become more economically lucrative, the functions and demands of such brands have changed.
The likes of Evil Geniuses, Fnatic, and Ninjas in Pyjamas have been around for years and, as such, they’ve had to develop in every area as the industry too developed. No wonder companies that were once present-minded inventions have had to change their branding, they needed to adapt to the new environment surrounding them as they blossomed into professional operations.
“With the esports scene moving at lightning pace, it’s not uncommon for brands to rapidly outgrow their original branding,” designer Owen M. Roe told Dexerto. “If you’re founding a team with limited resources at your disposal, you’re not going to be able to afford world-class designers.
“Eventually, there will come a point where a bad logo will begin to hurt your bottom line, whether it’s with brand recognition, merchandising, or because it just plain old looks dated. Fans strongly identify with logos, so it’s important to give them something to be proud of — but that’s also what makes esports rebrands so hit or miss.”
Even DAMWON Gaming changed their name and logo just months after establishing themselves as the current League of Legends world champions.
“Tenets of great design are timeless, but the market is so dynamic that sometimes rebrands are necessary — for example, if an organization switched regions and the old branding no longer effectively represents them,” Theorycraft founder and creative strategist Lauren Gaba Flanagan told Dexerto. “Also, if brand architecture wasn’t built correctly at launch, a rebrand is a good opportunity to correct and refresh that.
That said, observing shifts in design trends is the wrong reason to rebrand.
Organizations have to consider what their brand communicates to consumers, and also how well it serves its purpose across the board. These days, branding has to be well-suited to digital channels, on merchandise and branded accessories, in broadcast graphics, and supporting assets across their entire operation.
Creating a timeless brand
Esports is a digital-first industry that’s evolving at a rapid pace, so it’s impossible to ensure that a brand is able to stand the test of time in every application. It’s more sensible to try and represent what your company is right now and where you envisage it being in the short-to-medium-term.
Should we, as an industry, simply expect constant iterations of recognizable brands organizations attempt to communicate their ethos while staying in line with current design trends and norms? Despite not knowing how things will develop in the future, Roe believes that companies should still be aspirational.
“The goal should always be to make timeless logo designs,” he said. “Frequent & unnecessary rebrands are probably indicative of a larger problem within the organization. We see brands like Evil Geniuses and Dignitas throw away their iconic logos in favor of a hollow corporate rebrand, only to return to form with an updated iteration of their original branding.
“There’s a reason they made the decision to go back to their original logos, that’s what the fans identify with, there’s history there. Esports rebrands should aim to build on & improve what has already been established.”
It’s not uncommon to see new owners come in and change the logo (and overall direction) of an organization, as Roe stated. HBSE with Dignitas and PEAK6 with Evil Geniuses are perfect examples, only realizing that changes they felt were necessary would alienate their fan bases when the damage had been done. In these cases, they reverted back to the original designs, but attempted to modernize them.
Dignitas moved away from their iconic DIGI logo in 2018 just to bring it back in 2021, much to the delight of their fans and the wider industry.
“I hope we don’t see organizations with beloved branding pushed to rebrand simply because they feel pressure to modernize,” Flanagan added. “From the practical (what do I do with all my old merchandise?) to the emotional (I have fond memories of the old logo), any organization planning to rebrand has to do the work of appropriately retraining and reconditioning people on identification and association. A lot goes into that, so rebranding is a card you can pull maybe once. If the same org is rebranding multiple times, that’s a bigger problem.
“Brands can’t be futureproofed unless they’re composed of solid fundamentals, so organizations need to invest in great brand identities upfront — but that investment also must be ongoing. You need great designers who will continually think of ways to creatively apply the identity — through apparel design, photography, social, motion graphics — because that’s what can really keep decades-old branding feeling fresh and inventive. Org branding should be consistent and distinct while remaining flexible enough to incorporate changing rosters, games, and trends.”
The jury is out on whether the recent rebrands in esports will stand the test of time — though there are some that have been disappointing, to say the least — but it’s clear that this trend has emerged for the right reasons. Organizations want to optimize their potential for growth and success, and saying branding is part of that formula would be an understatement.