TSM has entered into an agreement with FTX Trading Limited

North American esports organization TSM has signed a 10-year $ 210 million naming contract with FTX Trading Limited and West Realm Shires Services Inc, owners of the FTX and FTX.US cryptocurrency exchanges.

The partnership agreement will result in TSM being renamed TSM FTX. Note that the deal applies to all squads of the organization across a variety of eSports disciplines and is effective immediately.

According to the press release, TSM FTX will seek to invest new resources by expanding its presence in the mobile side of esports, as well as accelerating its global reach by opening offices in Asia, Europe and South America.

In addition, TSM FTX will also spend $ 1 million in its own FTT token - FTX. In the meantime, the organization intends to distribute the cryptocurrency to all of its players and employees.

The partnership is said to also include a "charity initiative" that will focus on "expanding educational opportunities and developing financial literacy." When the initiative will be announced, it has not yet been announced.

Note that this is the second esports tagging partnership this week. North American esports organization Dignitas also announced a partnership with QTNMPAY yesterday, but the deal was specifically linked to League of Legends roster naming rights.