One of the largest tournaments ever for gaming has just taken place in Saudi Arabia. And a publicly traded esports company is walking away from it with millions of dollars in prize winnings.
What’s happening:
- GameSquare Holdings (NASDAQ: GAME) subsidiary FaZe Clan has won $2M USD in prize money from their participation in the Esports World Cup hosted in Riyadh, Saudi Arabia
Why it matters:
- The recent inaugural Esports World Cup in Saudi Arabia represented the largest prize pool ever in the history of gaming tournaments
By the numbers:
- FaZe Clan finished 6th overall in the tournament out of a total of 500 participating teams
Going deeper:
- FaZe Clan is one of the largest and most influential gaming brands globally, which ultimately resulted in them going public on the Nasdaq in a highly valued SPAC transaction prior to eventually being acquired by GameSquare
- GameSquare also has been making moves to bring gaming to a wider audience through the recent launch of a new partnership with the National Football League that is aiming to accelerate collaboration between the gaming community and professional sports
The intrigue:
- Billionaire Dallas Cowboys owner Jerry Jones was one of the earliest investors in GameSquare prior to their acquisition of FaZe Clan
