FaZe Clan Becomes Overpowered With Its $1 Billon IPO
The 31-Time Esports Champions, FaZe Clan, is set to make history as being the first esports team to go public in a SPAC (special purpose acquisition company) merger valued at $1 billion in the first quarter of 2022. Starting with partnerships with gaming supplements brands such as G FUEL to now lining up sponsorships with McDonalds, Draft Kings, and DC Comic, FaZe Clan is leading the overpowered charge in gaming, lifestyle, and media in the esports world.
“The team that came from making trick shots is now going public. How crazy is this?” Faze said on Twitter. “This isn’t just a big moment for us in Faze Clan, it’s a huge moment for everybody who grew up on the internet with us. We’ve grown up with you guys. This is really something we’ve created together. This is your company, your brand. Without you guys, we would never be here.”
“We believe Faze Clan is becoming the voice of youth culture, a brand that sits at the nexus of content, gaming, entertainment and lifestyle in the digital-native world,” Faze Clan CEO Lee Trink said. “This transaction will provide us capital and access to the public markets, which will help us accelerate the expansion of our multi-platform and monetization strategy.”
Faze clan now has a reach of over 350 million throughout its social media platforms. That number will only continue to grow with the rising popularity of esports around the world. It’s exciting to see a breakthrough such as this in gaming world, and makes us at OVRPWRD wonder who will be next in line to Become OP and IPO? Maybe 100 Thieves?Have a GG,
- The OP Team