In what is possibly one of the largest publicly disclosed esports sponsorships in history, Team SoloMid has signed a $210 million naming rights deal with crypto exchange FTX Trading Limited and West Realm Shires Services Inc., according to a recent report by The New York Times.
Moving forward, TSM will go by “TSM FTX” across all titles that the US-based organization participates in. These competitive esport titles include League of Legends, Apex Legends, Valorant, Hearthstone, Super Smash Bros., Fortnite, PlayerUnknown’s Battlegrounds, PUBG Mobile, Tom Clancy’s Rainbow Six Siege, Magic: The Gathering Arena, and chess.
TSM will reportedly be using the partnership money from the 10-year deal to expand to Asia, Europe, and South America. The org is also looking to invest in mobile gaming alongside other platforms.
“Taking a huge industry and then reimagining it in a digital age: that’s sort of what esports are to sports, and it’s sort of what crypto is to investing and to finance,” FTX CEO Sam Bankman-Fried told the Times.
Originally founded in September 2009 by Andy “Reginald” Dinh, TSM has risen to be one of the biggest and most successful esports organizations across the world. Last year, the org was valued at a whopping $410 million by Forbes.