Brazilian esports organisation FURIA has reportedly signed cryptocurrency exchange company FTX as its latest sponsor.
Speaking to Esports Insider, FURIA confirmed that FTX will pay approximately $3.2m (~£2.48m) for the one-year deal.
FURIA told Esports Insider that the one-year contract is only the first step as the organisation aims to establish a ‘long term relationship’ with the sponsor. The official announcement of the deal is set to go out at 11pm BST on April 22nd.
In 2021, FTX caused some noise in the esports scene when it announced a 10-year $210m (~£163m) naming rights sponsorship deal with the North American organisation TSM. Shortly after, it also became a sponsor of Riot Games’ League of Legends Championship Series (LCS).
FTX’s expansion to Brazil began with TSM shortly after the naming rights deal was closed. The organisation quickly went on to invest in Free Fire and Wild Rift teams within the regions.
With FURIA, FTX increases its exposure not only in the South American country but also in the U.S, where the organisation is currently aiming its expansion plans.
Alongside FTX, FURIA’s sponsorship portfolio includes Pokerstars, Red Bull, monitor brand AOC, Santander, Betway, HyperX, and Twitch.
Esports Insider says: In a rare move in the esports world, an organisation has disclosed the amount to be paid by its sponsor. The sponsor, though, is the same that disclosed the value of its naming rights deal with TSM. It certainly seems that FTX wants to send a message to the esports community of the value it is investing in the scene.