FURIA reportedly secures $3.2M FTX crypto sponsorship
Brazilian esports organization FURIA has reportedly entered a sponsorship deal with cryptocurrency exchange FTX.
Here's the deal: A report claims it's the largest sponsorship in Brazilian esports history.
- As per Estadão, the deal is worth $3.2M (R$15M) and is comparable to what top Brazilian football teams can command.
- The cryptocurrency exchange, which is no stranger to the esports industry, will serve as a jersey sponsor across all of the organization's teams.
- The deal is said to be valued much higher than FURIA's deals with the likes of Santander, Red Bull, Betway, and HyperX.
Exchanging more than crypto: FTX is no stranger to dishing out the big bucks in gaming.
- FTX took the esports industry by storm in June 2021 when it obtained the naming rights to North American organization TSM for 10 years. The deal is worth $210M.
- Just months after barring TSM from using FTX in its name in competition, Riot Games announced a deal between its North American LCS and that very same company. The sponsorship will last for seven years but financial terms weren't disclosed.
- The relationship between esports organizations and cryptocurrency companies is a complicated one. The latter offers a much-needed financial boon to the former, but fans are proving to be generally against crypto and blockchain technology for the time being. Environmental concerns appear to be the primary concern for many.