Riot Games wants to get rid of… Partnership with FTX. Friday’s motion by the studio to supervise FTX’s bankruptcy proceedings was filed. It sought to end the seven-year sponsorship agreement between the companies. .
W., a crypto critic, has spotted a short clip. Web3 works great originator (Across Riot states that the exchange still owes half what it paid $12.5 million in 2022 for the opportunity to show the FTX brand during LCS events. Riot says that the disgraced firm will owe it $13 million more in 2023. The first quarterly payment is due Jan. 2. Riot’s annual FTX payment is set to increase until the agreement expires in 2028.
Riot Games filed for bankruptcy at FTX to end its League of Legends Championship Series contract.
FTX owes $6.25million for 2022 (about half of the payment), and $12.875million for 2023. The agreement states that payments will increase through 2028.
Molly White (@molly0xFFF). December 17, 2022
Riot also holds a personal stake. It was established more than a decade ago. Sam Bankman-Fried, FTX founder, and former CEO He was “famous” for his “famous” playing. League of legends during phone calls. When it was revealed to be SBF, SBF’s habit of playing poker became a joke. .
Pictures of Mr Bankman Fried at play League of legends A script was included to describe his arrogance towards investor meetings, and his irresponsibility regarding corporate money. These photos created a public narrative that Mr. Bankman Freed was concerned about. League of Legends Riot says that Riot was once insane and human but now he is reckless and juvenile.” Even Fried, Mr. Bankman Fried, has a rating League of Legends It was the subject for online commentary with public figures And Elon Musk weighs in.”
Think again if you thought Riot was about to abandon cryptocurrency due to a major collapse. The reason the studio is asking for a court to cancel its agreement with FTX, is so that it can continue with new sponsorship. “The longer Riot is prevented from marketing the cryptocurrency exchange sponsorship class and streaming assets currently owned by FTX, the greater the damages will be incurred by Riot.” Hopefully, the studio doesn’t find itself in a similar situation at some point in the future.
Engadget recommends only products that have been reviewed by our editorial team. This is independent of the parent company. Some stories may contain affiliate links. We may earn an affiliate commission if you purchase something through one these links. All prices correct at time of publication.
[Denial of responsibility! reporterbyte.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – reporterbyte.com The content will be deleted within 24 hours.]