Crypto engagement isn’t over and done with for esports org TSM. While the powerhouse esports player was in the midst of the FTX fallout late last year, TSM is still looking big picture courtesy of a new partnership announced on Tuesday.
The org is pairing up with blockchain Avalanche for a new dealing that will see the org building their own Avalanche-based subnet and more. Let’s take a look at TSM’s aftermath from the FTX deal, and the early details made available in this new pairing with Avalanche.
TSM’s New Deal, And Why It’s Different Than BeforeTuesday’s announcement from Avalanche details a competitive gaming partnership lens that spans across esports organization Team SoloMid (TSM) and their gaming platform subsidiary, Blitz. TSM is one of the most legacy orgs in the game, with a dozen years of operation in a relatively young landscape. TSM currently competes in mainstay titles like League of Legends, Apex Legends, Dota 2, R6S, Valorant, and more.
The new deal will see Avalanche as the Exclusive Blockchain Partner for both properties, and the move will see Blitz build out their own designated Avalanche Subnet.
It’s not TSM’s first dance with a crypto-endemic partner. The esports org had a much more centralized partner previously in what was the now defunct FTX, a deal that was established in the midst of the bull market madness in mid-2021 and was the first of it’s kind. Despite the downfall of FTX and the fallout that’s come with it, it’s encouraging to see the esports org willing to continue to play in the space.
Post-FTX, there’s been a broad reset in partnerships and sponsorships within sports and entertainment deals. FTX’s exuberant spending has left well-respected centralized exchanges feeling the heat (for more reasons than just sports deals), and has left brands and talent more cautious in their crypto approach – and rightfully so. The result has been a relatively quiet
Looking ahead, there’s certainly an argument to be made that the greatest opportunity for partnership deals in sports and entertainment lies in the creators and overseers of blockchains themselves, where transparency is generally much more abundant and bad actors are typically easier to spot.
GameFi has been an interesting topic of discussion so far in 2023 in what has otherwise been middling market prices paired with some unique story lines. Major gaming, entertainment and art chains have been pushing to establish their territory, with chains like Avalanche, Polygon, Solana, Cardano and many more all carving out their lanes in creative spaces around sport and entertainment.
