TSM signs 10-year, $210M naming rights deal with FTX

Team SoloMid, an esports organization based in Los Angeles, signed a 10-year, $210 million naming rights deal with FTX Trading Limited and West Realm Shires Services Inc., which own cryptocurrency exchanges FTX and FTX.US.

Founded in 2009, TSM now will be known as TSM FTX, effective immediately.

“When I met Sam Bankman-Fried (the Founder and CEO of FTX.com and FTX.US), 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, (Bankman-Fried) 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.”

Said Bankman-Fried: “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.”

TSM FTX intends to expand its mobile sports presence, as well as opening offices in South America, Europe and Asia in a moe to become a more global brand.

A “philanthropic initiative” also is in the works, the intent of which will be to help increase “financial literacy.”

The TSM FTX partnership is the second esports naming rights deal announced this week. On Thursday, Dignitas announced a limited partnership with digital bank QTNMPAY.

–Field Level Media

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