A partnership for 10 years and 210 million dollars
The exchange of Sam Bankman-Fried has just announced in an official statement the partnership agreement between FTX and the E-Sport team TSM. The $ 210 million deal covers the naming rights for the team that is now called TSM FTX until 2041.
The money will be used for fund TSM’s expansion strategy as well as its evolution in the mobile games sector. The company plans to buy $ 1 million from FTT, the cryptocurrency of FTX, for distribution to players and employees.
The partnership will also include a philanthropic component bearing on increased educational opportunities and the financial education development. This whole aspect will be revealed later.
An announcement confirmed by a video on social networks….
… And by the CEOs of the two companies:
“When I met Sam Bankman-Fried, I immediately knew we had to work together. This agreement is extremely important for the future of our organization, but it was just as important for me personally to partner with such a visionary leader. In the same way as the shared passion for gaming connects people around the world across ages, continents and language barriers, Sam has created a company that connects the world around a common value, currency. I am extremely proud that he chose to work with TSM ”.
Andy Dinh, Founder and CEO of TSM.
”We are very happy to work with TSM. Their team outdid themselves both in and out of the game, and rightfully established themselves as the premier E-sports team. We were also very impressed by our collaboration with them: they have a dynamism, a creativity, a communication and a generosity that one rarely finds together. ”
Sam Bankman-Fried, Founder and CEO of FTX
A new collaboration hailed by the basketball player Stephen curry !
This partnership is not that surprising, TSM being considered the most valued E-sport team in the world has more than $ 410 million. There is only one FTX / Tesla partnership left to truly put the Exchange into space!
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