Monday, June 5, 2023
No Result
View All Result
Esports Grizzly
  • Home
  • GamesUpdates!
    • Apex Legends
    • Brawl Stars
    • Call of Duty
    • CS:GO
    • Dota 2
    • FIFA
    • Fortnite
    • Free Fire
    • Hearthstone
    • League of Legends (LoL)
    • Magic the Gathering (MTG)
    • Mobile Legends
    • NBA 2K League
    • Overwatch
    • Rainbow 6
    • Rocket League
    • Smite
    • StarCraft II
    • Street Fighter
    • Valorant
    • Wild Rift
    • World of Warcraft (WoW)
  • Esports Betting SitesNew
    • Bitcasino Esports Review | Evil Geniuses’ Home Esports Bookmaker
    • Sportsbet.io Esports Review
    • Cloudbet Esports Review | Is Cloudbet Legit?
    • Betway Esports Review
    • Luckbox Review (2021) – Is Luckbox Esports Safe?
    • GG.Bet Esports Review | League of Legends, Dota 2 and CS:GO
    • Rivalry Esports Review
    • Pinnacle Esports Review
  • Guides
    • Australia Esports Betting Sites
    • Canadian Esports Betting Sites
    • Philippines Esports Betting Sites
    • USA Esports Betting Sites
    • Dogecoin Esports Betting Sites
  • Newsletter
  • About us
  • Contact
Monday, June 5, 2023
No Result
View All Result
Esports Grizzly
No Result
View All Result

team-solo-mid-esports-logo

Image credit: TSM

TSM Will Become TSM FTX Following a $210M Deal

in League of Legends
June 7, 2021
  • Team SoloMid has signed a 10-year naming rights agreement with FTX Trading Limited and West Realm Shires Services for $210 million
  • The esports organization will be renamed TSM FTX and will use the sponsorship money to expand globally 
  • However, Riot’s rules won’t allow TSM to wear FTX’s logo during League of Legends and VALORANT games

Team SoloMid has made history by signing one of the most expensive sponsorships deals in esports. It will be accordingly renamed to TSM FTX. 

TSM Signs a Remarkable Deal with FTX 

According to a report by The New York Times, Team SoloMid, one of the most influential esports organizations in the world, has agreed to a 10-year, $210 million naming rights deal with FTX Trading Limited and West Realm Shires Services who own the cryptocurrency exchange platform FTX. This is one of the biggest sponsorship deals in esports ever. 

TSM will be renamed to TSM FTX and will use the money as leverage to expand the organization’s operations across several regions. New offices are planned for Europe, South America, and Asia. TSM FTX will also buy $1 million worth of FTX Tokens to give to its members. 

Last year Forbes estimated TSM’s value at $410 million, making it one of the most expensive esports organizations. The company not only fields male and female teams in many of the popular esports but also regularly runs ecosystem initiatives such as TSM University. 

FTX deals with all kinds of currencies, including both pricey ones such as Bitcoin and some more accessible ones like Dogecoin. On FTX’s USA platform, $6 billion worth of crypto was exchanged for the past month.

FTX’s CEO Sam Bankman-Fried thinks esports and cryptocurrency have a lot in common: Just as esports bring competition to the digital world, so do cryptocurrencies bring money. 

Riot’s Partnership Rules Become a Bump to TSM’s New Partnership

However, TSM’s new sponsorship deal falls under some restrictions because of Riot Games’ guidelines for partnerships. The latter company greenlit TSM to proceed with the deal but will neither allow TSM to use its new name nor let TSM players bear FTX’s logo on their jerseys during League of Legends and VALORANT competitions. 

Therefore TSM will remain as TSM in Riot-sponsored events and will change to TSM FTX across all other games. The esports organization said that this was accounted for since the beginning, and LoL and VALORANT were excluded from the FTX deal. 

Cryptocurrencies and esports seem destined to become intertwined, just like Bankman-Fried pointed out. Other organizations such as Dignitas and G2 have also signed deals with digital bank QNTMPAT and non-fungible token platform Bondly, respectively.  

Tags: FTXTSM
Stefan VelikovbyStefan Velikov
Tags: FTXTSM
Home » TSM Will Become TSM FTX Following a $210M Deal
ShareShareTweetShareSend
league-of-legends-clash-between-champions
Blog

Betting on League of Legends: Top 5 Sites to Wager Using Bitcoin

by Papa Bear
September 15, 2022

Few games have captured the hearts of the wider audiences quite like Riot Games’ masterpiece League of Legends has. The...

Read more
overwatch-female-characters
Opinion

Women in Esports: How Esports Are Moving Towards a More Inclusive Future

by Stefan Velikov
October 25, 2021

Gaming has long been regarded as something reserved for nerdy boys. As times change women join in on the fun...

Read more
v-bucks-currency-in-fortnite
Blog

Bitcoin Esports: Best Crypto Esports Betting Sites

by Alexander Todorov
January 23, 2022

Bitcoin esports betting is on the rise. The idea of placing wagers on your favorite esports teams is an experience...

Read more
Previous Post

Valve Appeals to Fans to Report CS:GO Cheaters

Next Post

BLAST Premier Fall Showdown Goes Global

Latest and Popular

Riot Games and midlane character.
League of Legends

Yasuo Dominates LoL’s Midlane Pick Rates, but Still Can’t Find a Positive Win Rate

by Stefan Velikov
May 30, 2023
Weibo's Daeny
League of Legends

Weibo Gaming Signs Former World Champion Coach Deany

by Stoyan Todorov
May 16, 2023
Riot Games' Jax character.
League of Legends

Riot Will Change Many Mythic and Legendary Items with Patch 13.10

by Stefan Velikov
May 10, 2023
League of Legends jungle pets.
League of Legends

Tyler1 Responds to Criticism of Griefing in a Recent LoL Match

by Stefan Velikov
May 9, 2023

Next Post
blast-premier-fall-series-featured-logo

BLAST Premier Fall Showdown Goes Global

eSports Grizzly Mobile Dark
eSports Grizzly Mobile Dark

Content Categories

  • Blog
  • Call of Duty
  • College Esports
  • Consoles
  • Cosplay
  • Counter Strike
  • DOTA 2
  • FGC
  • Fortnite
  • Gaming
  • Halo
  • Hearthstone
  • Industry
  • League of Legends
  • Mobile Legends
  • News
  • Opinion
  • Overwatch
  • Popular
  • PUBG
  • Q&A
  • Rainbow Six Siege
  • Rocket League
  • Streamers
  • Uncategorized
  • Valorant

Recent Posts

  • FlyQuest Enter Professional CS:GO by Signing Ex-CLG Red Roster
  • Overwatch 2 Fans Want This One OG Hero to Be Removed
  • Here Are the 5 Most Picked VALORANT Agents from VCT 2023

About Esports Grizzly

We bring you the best Premium esports content from around the globe.

Our FREE weekly newsletter

Keep in the loop with our minimalist weekly newsletter. Subscribe today!

GET IN TOUCH

Esports Grizzly reports on the latest industry and gaming intelligence, Want to pitch in? Get in touch!

  • Home
  • About us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions
  • Contact

© 2021 Esports Grizzly - Your daily BITE of global esports

No Result
View All Result
  • Home
  • Games
    • Apex Legends
    • Brawl Stars
    • Call of Duty
    • CS:GO
    • Dota 2
    • FIFA
    • Fortnite
    • Free Fire
    • Hearthstone
    • League of Legends (LoL)
    • Magic the Gathering (MTG)
    • Mobile Legends
    • NBA 2K League
    • Overwatch
    • Rainbow 6
    • Rocket League
    • Smite
    • StarCraft II
    • Street Fighter
    • Valorant
    • Wild Rift
    • World of Warcraft (WoW)
  • Esports Betting Sites
    • Bitcasino Esports Review | Evil Geniuses’ Home Esports Bookmaker
    • Sportsbet.io Esports Review
    • Cloudbet Esports Review | Is Cloudbet Legit?
    • Betway Esports Review
    • Luckbox Review (2021) – Is Luckbox Esports Safe?
    • GG.Bet Esports Review | League of Legends, Dota 2 and CS:GO
    • Rivalry Esports Review
    • Pinnacle Esports Review
  • Guides
    • Australia Esports Betting Sites
    • Canadian Esports Betting Sites
    • Philippines Esports Betting Sites
    • USA Esports Betting Sites
    • Dogecoin Esports Betting Sites
  • Newsletter
  • About us
  • Contact

© 2021 Esports Grizzly - Your daily BITE of global esports

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.