Esports firm TSM has announced a $210 million, multi-year partnership deal split between FTX Trading Limited and West Realm Shires Services Inc, owners and operators of FTX.com and FTX.US. FTX has now secured exclusive naming rights for TSM, which will now be known as ‘TSM FTX’.
The strategic partnership seeks to facilitate a “massive expansion” into new platforms including the opening of offices in Asia, Europe, South America, and more.
Additionally, TSM FTX expects to distribute cryptocurrency to each of its players and employees as well as purchasing $1 million in FTT, FTX’s native token.
Andy Dinh, Founder and CEO of TSM, says that not only did TSM FTX fit but Sam Bankman-Fried, FTX CEO, is way ahead of his time:
“Against all odds as a young ambitious entrepreneur, he has been able to disrupt markets by making smart decisions and by surrounding himself with smart people. He has proven that you can build a multi-billion-dollar business that can grow incredibly fast at scale – all while charging a fraction of what other platforms charge, and creating a culture of community and focus on social impact. This deal is extremely important to the future of our organization, but it was equally as important for me personally to partner with such a visionary leader. Just as a shared passion of gaming connects people around the world across ages, continents, and language barriers, Sam built a company that connects the world around a shared value of currency. I am extremely proud he chose to work with TSM.”
Bankman-Fried said they think that TSM will be able to help massively expand the presence of digital assets outside the traditional landscape.
“We’re also proud to work with them to give back to the world.”
Earlier this year, it was reported that naming rights for American Airlines Arena in Miami were sold to FTX for $135 million. The arena is home to the Miami Heat NBA team.