TSM Signs 10-Year, $210M Naming Rights Deal With FTX – The Esports Observer
Update: TSM has confirmed the deal in an official release. The partnership deal is split between FTX Trading LImited and West Realm Shires Services Inc, the owners and operators of FTX.com and FTX.US respectively. FTX.US will be TSM’s partner in the US with FTX.com as its international partner. TSM plans to open offices in Asia, Europe, and South America as part of a five-year expansion plan. There will also be a philanthropic component to the partnership to be revealed at a later date.
Original story: Esports organization TSM has secured a 10-year, $210M USD naming rights deal with cryptocurrency exchange FTX according to a report by the New York Times. The deal will cover all competitive TSM rosters, renaming them to TSM FTX.
According to the report, the money from this partnership will be used to fund TSM’s global expansion strategy as well as its push into mobile gaming. The company also plans to purchase $1M of FTX Token which will be distributed among its players and employees.
The report comes just one day after Dignitas announced its naming rights partnership with QNTMPAY. Naming rights had largely fallen out of favor in esports in recent years but appear to be making a resurgence.
The Esports Observer has reached out to TSM for more information.
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