- FTX is pressing harder on the gaming market by signing a deal with Nerd Street Gamers
- Through this deal, FTX will become the title sponsor of many of the organization’s events
- FTX is glad by the opportunity to continue supporting professional gaming
FTX has signed a deal with Nerd Street Gamers and will become the title sponsor of its esports tournaments.
FTX and Nerd Street Join Forces
The cryptocurrency exchange FTX continues its foray into esports with yet another deal. The crypto company behind the $210 million deal with TSM has now signed an additional commitment to Nerd Street Gamers. As per the deal, FTX will become a title sponsor of many of the organization’s esports tournaments.
The highlight of the partnership between FTX and Nerd Street Gamers will be the latter’s Nerd Street Championships in summer 2022. The Nerd Street Championships is a series of events in various esports titles with a total prize pool of $600,000. FTX will serve as the event’s presenting sponsor and will also advise Nerd Street on how to better use cryptocurrency. The exchange will also host various segments where it will educate the event attendees on the concept of cryptocurrency and blockchain and what their benefits are.
The deal between the two parties comes in the wake of Nerd Street Gamers’ sudden growth. The organization hosted more than 500 tournaments in 2021 alone and acquired a myriad of new followers. Nerd Street’s events last year were watched by an estimated 4.8 million viewers. Thanks to this success, the organization expanded its business and is now seeking to capitalize on its growth trend. The deal with FTX is the first step in this direction.
FTX Is Delighted to Support Professional Gaming
John Fazio, the chief executive of Nerd Street Gamers, spoke on the new partnership. He noted that the organization’s ambition is to rise above the unnecessary hype around blockchain and truly educate its followers on the important things about the concept.
“Our partnership with FTX US is focused on arming our gamers with context and knowledge to cut through the noise of getting rich quick schemes and see the real value of this new technology.”
Fazio added that blockchain technology is still in its infancy but he believes it has the potential to greatly benefit esports. The CEO concluded that the collaboration with FTX will see various blockchain-enhanced features included in Nerd Street’s platform.
FTX is happy to continue its commitment to esports. The crypto exchange’s president, Brett Harrison, explained that he is delighted to continue supporting the sector. He said that as a gamer himself, he wants to help Nerd Street’s mission to make esports for everyone.
“Their (Nerd Street’s) platform is unlocking a massively untapped market of gamers that want to participate but lack access and we’re excited to support their growth.”
Cryptocurrency in gaming has been a controversial topic met with excitement by some and with antagonism by others. Many are excited by the innate similarities between esports and cryptocurrencies but just as many seem skeptical of the crypto sector and don’t want to see it involved with gaming.
When companies like the gamer-oriented chat platform Discord and the game developer Ubisoft announced their intentions to get into NTFs, fans were almost unanimously opposed to the idea.
On the bright side, many industry specialists, such as organizations and teams seem to welcome cryptocurrencies and the potential of crypto partnerships.