Agreement solidifies TSM's position as the world's most dominant esports brand and brings FTX to the world of esports
LOS ANGELES, June 4, 2021 /PRNewswire/ -- TSM, the premier global esports organization, today 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 respectively. FTX.US has partnered with TSM in relation to the US, and FTX.com internationally. As part of this historic new relationship, FTX.com and FTX.US have, together, secured exclusive naming rights for TSM, which will now be known as 'TSM FTX'.
With this strategic partnership, TSM FTX will embark on a new set of industry-leading initiatives and specifically seeks to invest these resources into esports and gaming over the next five years. The partnership's strategy includes a focus on massive expansion into new platforms such as mobile, accelerating existing global reach with the opening of offices in Asia, Europe, South America and more and building on existing performance infrastructure, and increased investment in talent development. Additionally, TSM FTX will distribute cryptocurrency to each of its players and employees as well as purchasing $1 million in FTT, FTX's native token.
"When I met Sam Bankman-Fried, I immediately knew we had to work together," said Andy Dinh, Founder and CEO of TSM. "Not only did TSM FTX fit perfectly as a brand, Sam is an innovative CEO that is in every 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."
Sam Bankman-Fried, Founder and CEO of both FTX.com and FTX.US, commented on the news, "We're really 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 really 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."
To align with TSM FTX's mission and focus on social impact and giving back, the partnership is set to feature a soon-to-be announced major philanthropic initiative, focused on the shared goals of increasing educational opportunities and developing financial literacy.
About TSM FTX
TSM FTX is the most valuable esports organization in the world. A platform of champions, TSM FTX seeks to provide maximum value through the competitive excellence of its teams and the creation of exciting, educational, and entertaining content that deliver the ultimate esports and gaming fan experience.
FTX.com is a cryptocurrency exchange built by traders, for traders. It offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens and strives to offer a platform robust enough for professional trading firms and intuitive enough for first-time users. In less than 2 years, FTX.com has become one of the leading, most innovative, and well-respected cryptocurrency exchanges in the world. Its mission to turn revenue into charitable giving led to the launch of the FTX Foundation in which 1% of all FTX.com net fees are donated to the world's most effective charities.
FTX.US is a US-regulated cryptocurrency exchange, built from the ground up. Our mission is for FTX.US to grow the digital currency ecosystem, offer US traders a platform that inspires their loyalty, and become the market leading US cryptocurrency exchange by volume over the next two years. To learn more about FTX.US, please visit: ftx.us
For TSM FTX
For FTX.com and FTX.US
M Group Strategic Communications