TSM joins forces with blockchain company Avalanche

Despite the collapse of FTX several months ago and a $210 million deal scrapped, TSM is not throwing in the towel on cryptocurrencies. A few days ago, North American esports organization TSM announced a new exclusive blockchain partnership with Avalanche.

The main goal of this partnership is to create new experiences for all esports players and, furthermore, to help “generalize player-centric web3 gaming products.”

In addition, TSM also announced that this partnership with Avalanche would bring its Competitive Gaming Blitz app to the blockchain.

John Wu, president of Avalanche’s Ava Labs, said:

“The partnership with TSM will bring truly innovative gaming experiences to players around the world.”

TSM & Avalanche to host tournaments together

The partnership between TSM and Avalanche will also result in a new Blitz subnetwork dedicated to security, speed, and scalability. Moreover, TSM plans to organize tournaments under the Avalanche brand on the Blitz subnetwork with the goal of:

“Help players improve their skills with performance information and learning tools.”

TSM’s official press release also states they will use Core services to conduct all their transactions.

Web3 gaming takes off in 2023

Recently, we have seen many blockchain companies partner with gaming companies, and 2023 looks to be one of the biggest years for Web3 gaming.

At the end of 2022, Avalanche partnered with GREE, a Japanese company dedicated to developing Web2 games. However, thanks to this partnership, GREE will now move on to developing Web3 games.

Andy Dinh, CEO of TSM and Swift, said:

“Web3 gaming is still quite early. It’s very exciting, but it will take time to materialize.”

“TSM’s approach to Web3 involves creating products over time that are “authentic to the space and add value.”

On the other hand, John Wu, president of Ava Labs, said:

“The partnership with TSM brings truly innovative gaming experiences to gamers around the world. Avalanche’s fully customizable subnets were created to help organizations push the boundaries of what is possible for gaming with sub-second transaction speed, scalability, and security for millions of users.”

In early 2023, the president of Square Enix announced that the company would not abandon blockchain projects. In addition, there have been many rumors for several weeks that leading retail and technology company Amazon is working on an NFT initiative focused on Web3 gaming. Undoubtedly, this initiative can be instrumental in normalizing these digital assets.

TSM takes another risk

As we mentioned, one of TSM’s previous partners within the cryptocurrency world was FTX. However, after many controversies throughout 2022, TSM suspended this partnership and canceled it near the end of the year.

Now it is time to wait and see how things turn out in this new partnership between TSM and Avalance.

Header: TSM | Avalanche