FTX Crypto Exchange Signs Biggest e-sports Naming Rights Deal

FTX, a popular crypto derivative platform has inked a $210 million deal to bag the naming rights of the world’s biggest pro-e-sports team TSM. The partnership would see TSM be renamed to TSM FTX. The crypto platform has established itself as one of the key crypto derivative and spot trading platforms over the years and is also popular for adding popular pre-IPO shares such as Airbnb and most recently Coinbase Inc.

It's time for a new era of TSM.

Welcome to the family @FTX_Official pic.twitter.com/VLofrUlmSU

— TSM FTX (@TSM) June 4, 2021

TSM is the most valuable e-sports company and with this new partnership with crypto exchange FTX, it will focus on heavy expansion towards new mobile platforms and also utilize the funds towards opening up new offices in Asia, Europe, South America, and more.

The $210M multi-year partnership has been split between FTX Trading Limited and its parent company West Realm Shires Services Inc. Sam Bankman-Fried, Founder and CEO of both FTX.com and FTX.US, said,

“We’re excited to work with TSM. Their team has gone above and beyond both in-game and out, and rightfully established itself as the premier team in esports. We’ve also been impressed working with them: they have the drive, creativity, communication, and generosity that we find combined in very few places. In the end, our partnerships will only be as strong as we make them, and we 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.”

FTX is Expanding its Service Domain

Only yesterday the popular crypto derivative platform FTX has launched a new NFT marketplace called FTX NFTs built for the trading of digital collectibles. The new craze around the NFT market has led to many mainstream crypto exchanges including Huobi and Binance to announce an exclusive marketplace.

https://t.co/hgEwdb9Exf pic.twitter.com/DadsMNScNL

— FTX – Built By Traders, For Traders (@FTX_Official) June 3, 2021

The crypto derivative platform this bull season has focused on expansion in different domains both inside and outside the crypto market.

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About Author

Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.