FTX named official cryptocurrency exchange of the LCS

The League of Legends Championship Series (LCS) has named FTX its official cryptocurrency exchange partner, representing Riot’s biggest esports league sponsorship agreement to date.

As part of the seven-year partnership, FTX will present the new Most Improved Player Award and FTX branding has been added to in-game gold across all LCS matches. Financial terms were not disclosed.

FTX LCS
Image credit: Riot Games

RELATED: TSM secures $210m 10-year naming rights deal with FTX

Riot explained the partnership in an official blog post, citing consumer interest.

“At the forefront of every LCS partnership, we consider the sentiment and interests of our fans,” the company said. “This data strongly informs our decision-making process, helping us hone in on partners who are relevant to our audience and can elevate the LCS for years to come.

“Those metrics pointed to a direct interest in the crypto category, where FTX stands out as an innovative, thoughtful leader in a space our fans understand. Together, we’ve only just begun to press our advantage.”

The deal immediately raised eyebrows from the esports community, as this announcement comes just months after LCS denied TSM from using FTX branding. Sources told Dot Esports that as part of the deal, Riot will have the ability to remove the branding from assets on applicable international broadcasts where cryptocurrencies are ‘strictly regulated.’

On the contrary, editing physical assets, such as logos on a TSM jersey, are not as plausible.

RELATED: Dignitas announces LCS naming rights deal with QNTMPAY

Fans will begin to see FTX branding across LCS broadcasts this weekend. The cryptocurrency exchange made its first esports debut in June with its TSM partnership.

Esports Insider says: Cryptocurrency and NFT marketplaces make for trendy esports partners as of late, but not all fans are on board. In addition to environmental concerns, Riot risks looking like a hypocrite, denying teams the ability to advertise a crypto partnership only to cash in later. Crypto marketplaces are often treated in the same category of risk as alcohol and gambling, which requires that international broadcasts and tournaments be carefully censored in certain regions.

ESI Podcasts | Digest, Focus, Insight

About Esportsreporter.com

About Esportsreporter.com:  A leading news channel for all things eSports and gaming. Publishing the most relevant breaking news for esports and gaming including coverage of industry trends and guides on the business of eSports and gaming for investors and aspiring eSports and gaming professionals.

Esportsreporter.com is a wholly owned subsidiary of Appsoft Technologies, Inc. (OTC:ASFT) a publicly traded development stage company aspiring to be a leading contender in the esports, gaming and mobile apps industry.

Appsoft Technologies, Inc.

Safe Harbor Statement

This communication may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such  assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.

Other Articles

Leave a Reply