FTX Acquires Naming Rights to Esports Organization TSM in $210M Deal

Crypto exchange FTX acquired the naming rights to esports organization TSM in a multi-year deal for $210 million.

The deal is the largest in esports history, claims an announcement Friday.
TSM will be known as "TSM FTX."
The organization plans to expand into new platforms such as mobile, and open offices in Asia, Europe and South America.
It will also distribute crypto to its players and employees as well as purchasing $1 million worth of FTX's native token FTT.
Founded in 2009, TSM FTX says it is the world's most valuable esports organization and fields players in League of Legends, Fortnite, Super Smash Bros and Tom Clancy's Rainbow Six Siege, among others.
FTX entered sponsorship of real-world sports in March when it acquired the naming rights of Miami Heat professional basketball team's home arena for a reported $135 million.

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