FTX Crypto Exchange Signs Biggest e-sports Naming Rights Deal

Published June 4, 2021 | Updated June 4, 2021

In Brief
  • FTX crypto exchange inks a $210 million exclusive naming rights deal for the world’s most valuable e-sports company.
  • The investment comes just a day after the exchange launched its NFT marketplace.

FTX Crypto Exchange Signs Biggest e-sports Naming Rights Deal

  • FTX crypto exchange inks a $210 million exclusive naming rights deal for the world’s most valuable e-sports company.
  • The investment comes just a day after the exchange launched its NFT marketplace.

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.

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 AsiaEuropeSouth 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.

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

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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Prashant Jha 664 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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