According to a New York Times article, TSM has acquired a 10-year, $210 Million USD branding rights contract with cryptocurrency exchange FTX. TSM will now be known as TSM FTX across all titles they compete in, including Riot Games’ LCS, as part of the long-term agreement.
About the TSM FTX $210M deal
This is one of the largest partnerships involving an esports group to date, with the crypto business FTX paying out $21 million per year for the next ten years. The money from this arrangement will be utilized to fuel TSM’s global expansion and increased investment in talent development and building on existing performance infrastructure.
It's time for a new era of TSM.
— TSM FTX (@TSM) June 4, 2021
TSM has a history of signing deals that break records. Earlier, TSM made the most expensive player signing in the LCS offseason when they paid $6 million for Hu “SwordArt” Shuo-Chieh. TSM will make its League of Legends start as TSM FTX this weekend under the agreement of a $210 Million deal. Other esports titles will follow suit, with changes to rosters in VALORANT, PUBG, R6, PUBG Mobile, and others.
Recently, Andy Dinh, Ceo, Team Solo Mid hinted to expand into mobile gaming seeing the high viewership in mobile esports. To let you know, TSM already owns the PUBG Mobile team in India. With the game coming back in India as Battlegrounds Mobile India, the squad will be soon competing in esports events.
TSM stands for Team SoloMid, a professional esports team headquartered in the United States. It is one of the premier esports organizations in the world. According to Forbes, TSM worth is around 60m more than Cloud9, 100m more than Team Liquid, and 235m more than G2 e-sports. TSM currently covers nearly all esports especially PC gaming.
Their Company websites mention that FTX is a cryptocurrency exchange designed for and by traders. FTX offers industry-first derivatives, options, volatility products, and leveraged tokens, among other things. We seek to create a platform that is both robust and intuitive for professional trading firms and first-time users.