Faze Clan to go Public In SPAC Deal Worth $1 Billion

Competitive gaming organization Faze Clan is going public(SPAC(alternative IPO))and boasts a $1 billion valuation. (no other domestic competitive team or organization is publicly traded)

The group started back in 2010 as a couple of guys doing trick shots on call of duty. Admittedly, I thought the whole thing was stupid however I couldn’t deny their growing influence in the space, especially seeing how enamored my younger brothers and their friends were with the collective. Over the decade, the group has grown exponentially and now competes in world-class gaming competitions regularly for prizes worth tens of millions of dollars. Additionally, their social presence has grown equally as fast, with the group boasting a global reach of well over 350 million people across various platforms.

Not only are their top creators' dominant players on virtually all social platforms, but they’ve even managed to recruit celebrities such as Kyler Murray(Arizona Cardinals quarterback and current MVP candidate), Pitbull(Global superstar/philanthropist and Grammy award-winning musician), LeBron James Jr(self-explanatory), and much much more. They even played a sizable role in the record-breaking fortnight collaboration between Travis Scott and Drake(ChampagnePapi, light skin Keith Sweat) on Twitch.

50 Years of Gaming History, by Revenue Stream (1970-2020)

I feel as though this headline is particularly important because it highlights another industry in which we are witnessing the pendulum, slowly but surely, swing in the way of digital. Seriously, with 2.4 billion gamers and an industry valued and $174 billion(that’s more than Film, music, NFL, MLB, and MBA combined), we’re witnessing a cultural revolution that hasn’t been seen since the introduction of the home television.

Anyhow, like this or any other long-winded piece I post, feel free to reach out to discuss the topic in further detail. Best,