Riot has announced FTX as its official cryptocurrency exchange partner for the League of Legends Championship Series (LCS).
In addition to the new Most Improved Player Award, FTX branding added to in-game gold across all LCS matches. Financial information is shrouds in secrecy.
In an official blog post, Riot detailed the agreement, citing consumer enthusiasm.
The firm stated that the mood and interests of our fans are at the heart of every LCS collaboration. They went on to say that this data plays a big role in their decision-making. Allowing them to zero in on partners that are relevant to their audience and can help the LCS grow for years to come.
FTX comes out as a forward-thinking, savvy leader in a space that their followers are comfortable with. They had also only recently begun to use their collective edge. Furthermore, they had just recently begun to leverage their advantage as a team.
The deal came just months after the LCS restricted TSM from using the FTX name.
TSM changes its name
TSM has changed its name on social media and in several sponsorship categories that allow cryptocurrencies, but it has stayed known as “TSM” in the LCS.
Riot will be able to remove cryptocurrency branding from assets on acceptable international broadcasts, sources informed Dot Esports.
The new logo and jersey patch will not be able to withdraw from the on-demand broadcast, unlike TSM’s contract.
Editing physical assets, like logos on a TSM jersey, on the other hand, is not as feasible.
This weekend, FTX branding will begin to appear on LCS broadcasts. With its TSM relationship, the cryptocurrency exchange made its first foray into e-sports in June.
As an LCS sponsor, FTX will join the likes of Mastercard, Bud Light, Grubhub, and ROCCAT. Riot’s arrangements with the bitcoin exchange’s financial terms don’t disclose. The new relationship expects to unveil in the coming weeks.
Cryptocurrency and NFT marketplaces have recently been popular esports partners, but not everyone is on board. Riot risks appear disingenuous if it denies teams the ability to promote a crypto-collaboration just to cash out later.
For this reason, international broadcasts and tournaments must be strictly limited in some places.