- TSM has its eyes on Web3 again after suspending its $210 million FTX deal.
- The leading esports organization is partnering with Avalanche.
- TSM will work with Avalanche to introduce more experiences.
The FTX meltdown has spelled doom for many of its collaborators; however, it wasn’t as effective for Team SoloMid (TSM). After closing its ten-year $210 million FTX deal, facing backlash from the esports community, and losing half its name, TSM is ready to move on with a new partnership.
The esports organization has its sights on Web3 again as it looks to augment its overall experience. After actively seeking new partnerships behind closed doors, TSM is ready to drop the anchor in Avalanche’s harbor and explore new opportunities.
Bringing an Avalanche of Opportunities
TSM is set on revolutionizing the gaming industry with Avalanche as its blockchain partner. The partnership will allow the esports pioneer to utilize Avalanche’s subnets for its competitive gaming platform Blitz.
As part of the collaboration, TSM will build its 30-million-user gaming app on Avalanche’s custom blockchain, optimized for speed, security, and scalability. This will enable it to host AVAX-powered tournaments on the subnets and provide players with special analytical tools, insights, and prizes.
Sponsored
On the other hand, the Blitz subnet will provide utility to the AVAX ecosystem by using AVAX for gas fees and burning a portion of the gas fees on every transaction users make.
The two companies aim to work together and pioneer new solutions with Avalanches’ subnets. The partners have revealed that they would also consider migrating to Avalanche’s Elastic Subnet in the future, which will improve community involvement by allowing gamers to validate the subnet via Proof of Stake (PoS).
Sponsored
John Wu, President at Ava Labs, commented on the partnership:
“Partnering with TSM brings truly innovative gaming experiences to players around the world. Avalanche’s fully customizable subnets were created to help organizations like TSM push the boundaries of what is possible for gaming with sub-second transaction speed, scalability, and security for millions of users.”
Andy “Reginald” Dinh, CEO of TSM and Blitz, shared how the partnership would add value to their fanbase:
“I am excited to partner with Avalanche on experiences that will add value to our users and fans. They are an authentic leader in this space, and together we share a long-term vision of building products that are authentic and beneficial to our community.”
On the Flipside
- Miami Heat, Golden State Warriors, and the Mercedes Formula One Team were also involved in deals with FTX.
- TSM’s deal with FTX started because of Sam Bankman-Fried’s (SBF) passion for MMORPG League of Legends.
Why You Should Care
TSM’s partnership with Avalanche will significantly introduce Web3 elements to mainstream gaming products and esports tournaments. Considering TSM’s extensive history in the esports realm, the new partnership could expose many players to web3 gaming and the opportunities it beholds.
Catch up on TSM’s deal with FTX:
Top Esports Organization TSM Suspends $210M Naming Rights Deal with FTX
Read how The Sandbox is celebrating March:
The Sandbox to Distribute $600K in Rewards at March Festival
