The influx of cryptocurrency into gaming and esports continues unabated. In a recent announcement, it was revealed that FTX US will become a presenting sponsor for the upcoming Nerd Street Championships this summer. FTX will also sponsor Nerd Street’s national schedule of weekly community events at their nine owned-and-operated esports venues.
Cryptocurrency exchange FTX had already solidified itself as a major player in the esports sector after their massive $210 million investment in Team Solo Mid (TSM) last year. FTX then expanded its investment in esports in the form of a seven-year partnership deal with the North American League of Legends scene, becoming the official cryptocurrency exchange of the LCS.
“…as a gamer and esports fan I’m proud to support Nerd Street’s mission to bring esports to everyone.”
Brett Harrison, President, FTX
The Nerd Street platform is a marketplace of esports experiences connected to a national network of esports venues. Their growing network provides access to the equipment necessary for players to compete in local, regional, and national. In 2021, the company hosted over 500 tournaments that broadcast to 4.8 million viewers and fueled the platform to pass 10,000 monthly active users.
Nerd Street has received venture capital backing from Founders Fund, Comcast Spectacor, Seventy Six Capital, Elevate Ventures, Riverside Ventures, Gaingels, Acies Investments, Five Below, and angel investor George Miller. Other notable shareholders include NFL stars Emmanuel Sanders and JuJu Smith-Schuster.
“Our partnership with FTX US is focused on arming our gamers with context and knowledge to cut through the noise of getting rich quick schemes and see the real value of this new technology.”
John Fazio, CEO, and Founder of Nerd Street Gamers.
With this new partnership, FTX US will now power Nerd Street’s ability to accept crypto payments, offer crypto payouts to its users, and empower additional future blockchain-related features. Built on the partnership’s foundation of increasing value to gamers, Nerd Street will leverage its in-person events, digital tournaments, and live broadcasts to provide educational content surrounding blockchain technology.
“FTX US has a strong focus on making sure our industry – crypto – is a safe accessible place for all types of people,” said Brett Harrison, President, FTX. “That’s why as a gamer and esports fan I’m proud to support Nerd Street’s mission to likewise bring esports to everyone. Their platform is unlocking a massively untapped market of gamers that want to participate but lack access and we’re excited to support their growth.”
The Nerd Street Championships presented by FTX US are a series of esports competitions across multiple game titles split into two seasonal circuits, culminating in a championship event per season. The qualifying competitions are open to all players of all skill levels. Teams that participate accrue points to qualify for the championship event at the end of each season, while monthly qualifiers provide auto berths to the winners. Over $600,000 in prizes will be awarded to competitors for the year.
“Every time a new paradigm in technology opens up – the internet, web browsers, mobile phones, or social networks – there is always a lot of noise, and the majority fails to sustain beyond the initial hype,” said John Fazio, CEO, and Founder of Nerd Street Gamers. “With blockchain, it’s been no different. Our partnership with FTX US is focused on arming our gamers with context and knowledge to cut through the noise of getting rich quick schemes and see the real value of this new technology. Blockchain is still in the early innings, but I’m confident that it will have a profoundly positive impact on gamers when applied correctly. Through our partnership with FTX US, we’ll begin rolling out blockchain enhanced features that provide value without cost to our members.”
