EXCLUSIVE: TSM FTX's Head Of Operations Talks Crypto Partnership

United States esports organization TSM recently announced a multiyear naming rights partnership with cryptocurrency exchange FTX for $210 million.

The deal resulted in the renaming of TSM to TSM FTX and initiatives that include the distribution of cryptocurrency to esports players and employees. 

TSM FTX head of operations Walter Wang appeared on "The Benzinga Crypto Show" for an exclusive interview Thursday. 

The exposure and visibility from the name change is extremely valuable for FTX, Wang said, adding that anytime one of the gamers is streaming, thousands of people see the FTX name on the stream. 

TSM purchased $1 million of FTX's FTT token as part of the partnership, he said. FTT is the native cryptocurrency token for the FTX exchange. 

Wang told Benzinga that he is looking forward to learning more about non fungible tokens from FTX, in order to understand how the esports team can take advantage of NFT releases. 

TSM FTX aims to educate its esports players about cryptocurrency and the ways it is changing the financial landscape, he said. 

Wang said he doesn't know as much about the crypto space as he would like to; he may know more than he gives himself credit for, as he told Benzinga he bought his first Bitcoin BTC/USD in 2013 or 2014. 

See the full interview here:

BTC Price Action: In July 2014, Bitcoin was trading under $600.

At last check Friday, Bitcoin was up 0.52% at $32,425.

Photo by THAM YUAN YUAN from Pixabay.