The US affiliate of cryptocurrency exchange FTX has struck a multi-year deal with esports platform Nerd Street Gamers.
The FTX US’ branding package will see the exchange named a presenting sponsor for the upcoming Nerd Street Championships this summer. Part of the same deal, the US-based exchanges will sponsor the platform’s national schedule of weekly community events at their nine owned-and-operated esports venues.
In addition to the naming rights, FTX US is set to embark on a new set of initiatives that would enable Nerd Street to accept crypto payments and offer crypto payouts to its users. The partnership will also see considerable investment to empower additional future blockchain-related features.
FTX is no stranger to the gaming industry as they inked a sponsorship agreement last year with US esports organisation Team SoloMid (TSM) for a reported $210 million. The exclusive deal, which lasts for ten years and was the largest in esports history, saw TSM renamed as TSM FTX as well as purchasing US$1 million in FTT, FTX’s native token.
“FTX US has a strong focus on making sure our industry – crypto – is a safe accessible place for all types of people,” said Brett Harrison, President, FTX. “That’s why as a gamer and esports fan I’m proud to support Nerd Street’s mission to likewise bring esports to everyone. Their platform is unlocking a massively untapped market of gamers that want to participate but lack access and we’re excited to support their growth.”
John Fazio, the CEO and Founder of Nerd Street Gamers, added: “Every time a new paradigm in technology opens up, the internet, web browsers, mobile phones, or social networks, there is always a lot of noise, and the majority fails to sustain beyond the initial hype. With blockchain, it’s been no different. Our partnership with FTX US is focused on arming our gamers with context and knowledge to cut through the noise of getting rich quick schemes and see the real value of this new technology. Through our partnership with FTX US, we’ll begin rolling out blockchain enhanced features that provide value without cost to our members.”
Founded in 2016, Nerd Street Gamers taps into the growth of esports by allowing gamers to compete for titles or prize money, which has soared in popularity worldwide. The company has grown to broadcast now to nearly five million viewers, which fueled the platform to pass 10,000 monthly active users.
Even with the company’s esports training venues closed for the majority of 2021 due to the pandemic, the platform hosted over 500 tournaments. Also in November, Nerd Street Gamers, led by Philly entrepreneur and CEO John Fazio, opened its newest esports and gaming campus, dubbed The Block.