Crypto involvement is not over and done with for esports org TSM. While the esports powerhouse is in the midst of FTX’s fallout late last year, TSM is still looking at the big picture from the new partnership announced on Tuesday.
The org is paired with the Avalanche blockchain for a new deal that will see the org build its own Avalanche-based subnet and more. Let’s take a look at the consequences for TSM of the FTX agreement, and the initial details available on this new pairing with Avalanche.
TSM’s New Deal, And Why It’s Different From Before
Tuesday’s announcement from Avalanche details the competitive gaming partnership lens that spans esports organization Team SoloMid (TSM) and its gaming platform subsidiary, Blitz. TSM is one of the most legacy orgs in the game, with twelve years of operation in a relatively young landscape. TSM currently competes in major 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 its own designated Avalanche Subnet.
This isn’t TSM’s first dance with a crypto-endemic partner. The esports organization had a previously more centralized partner in the now-defunct FTX, a deal struck amid the bull market frenzy of mid-2021 and a first. Despite the collapse of FTX and the ensuing fallout, it’s nice to see esports orgs willing to continue playing in the space.
Avalanche (AVAX) will be the blockchain of choice for esports org TSM and their in-house gaming platform. | Source: AVAX:USD on TradingView.com
What’s Next In Gaming & Esports
After FTX, there was a broad reset in partnerships and sponsorships in sports and entertainment deals. FTX’s massive spending has caused respected centralized exchanges to feel the heat (for reasons other than just sports offerings), and has made brands and talent more cautious in their approach to crypto – and rightly so. The results have been relatively quiet
Going forward, there is always an argument to be made that the biggest opportunities for partnership deals in sports and entertainment lie with the creators and overseers of the blockchain itself, where transparency is generally greater and bad actors are usually easier to spot.
GameFi has been an interesting topic of discussion until now in 2023 due to its different market prices paired with some unique story lines. The main game, entertainment and art chains have been pushing to establish their territory, with chains like Avalanche, Polygon, Solana, Cardano and many others all carving a path in the creative space around sports and entertainment.