Two months ago, TSM made one of the biggest announcements in their history, with the esport organisation signing an agreement with the up-and-coming cryptocurrency exchange FTX and one which is reportedly the biggest publicly disclosed deal in esports history valued at $ 210 million.
This agreement was not without controversy, since Riot Games would prohibit them from using both the name and the logo of their new sponsor when competing within the League of Legends Championship Series (LCS), due to problems regarding the regulation of cryptocurrencies in other countries.
However, an announcement made today means that situation will surely now change, as Riot themselves have announced a new seven-year partnership with FTX, making them the “official cryptocurrency exchange of the LCS”.
As with the agreement with TSM, this partnership represents the largest sponsor Riot has ever signed for an esports league, the results of which will now adorn LCS broadcasts, starting with the LCS Championship 2021.
“Starting this weekend, fans will notice FTX branding on the LCS broadcast around the most valuable currency in League of Legends: Gold. Player net worth, total team gold and those rollercoaster gold graphs will all be presented by FTX," explained Riot in their press release.
Additionally, FTX will directly sponsor the LCS Most Improved Player Award, to be voted on by a cross-section of Rioters, media and team representatives at the end of August 2021.
This would not be the first time that sponsors outside of Riot's restrictions on teams have joined this league, with Mastercard and Bud Light being among the most important and with the greatest presence within the weekly broadcasts of the North American league.
So far, the full details of the agreement between Riot Games and FTX have not been revealed, however, this makes North America’s top competition the first Riot Games league to have a sponsor related to cryptocurrencies, something that could open new paradigms in other League of Legends competitions internationally.
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