The gaming influencers from FaZe Clan became famous with trick shots in Call of Duty. Then they sold their name and good reputation and went public. After the stock plummeted, they are back now and in good spirits. A relaunch of their clan generated massive interest on the internet.
This is the FaZe Clan:
- The FaZe Clan is a “notably cool” e-sports organization that has its roots in trick shots: They became famous on YouTube with trick shot videos starting in 2010. Initially, there were three people.
- The clan focuses less on success in e-sports but rather on “cool content creators” with a sometimes somewhat difficult attitude: The FaZe clan was also known for dubious betting sites for CS:GO in Antigua and draconian contracts for YouTubers. In 2021, members of the clan peddled fake cryptocurrencies to fans. One of the founders, FaZe Banks, was frequently at the center of controversies.
- Nevertheless, FaZe was incredibly successful, especially on social media. Their members were stars, the channels on social media were huge. Small setbacks for members, like a crying breakdown after being banned from Fortnite, were managed well.
PvP games are often the games that bring e-sport clans to the top:
Clan sells its name on the stock market
That was the dark time for the clan: The FaZe Clan became increasingly commercial, and the original founders sold their shares, relinquished control, and stepped back. Other members joined the clan:
- including Snoop Dogg
- or the “Stranger Things” actress Grace van Dien
The commercialization culminated in an IPO.
However, this failed catastrophically, and the stock plummeted sharply within a short time. Fans of the clan who had invested in the stock lost a large part of their investment.
Relaunch generates huge interest
This is the current status: The influencers of yore have now regained control of the clan. Founder Richard “FaZe Banks” Bengston (32) is setting the tone.
However, the clan now belongs 51% to the company GameSquare and 49% to DraftKings co-founder Matt Kalish:
- GameSquare is a company focused on influencer marketing with an emphasis on esports
- DraftKings is a provider of sports betting
According to Wallstreet-Online, the relaunch of FaZe on April 27 generated an extreme influx on social media. The clan was the number 1 trending topic on Twitter. Also, the search interest was, according to Google Trends, huge.
It is said: “The internet is captivated by the return of FaZe Banks.”
FaZe belongs in the history books: It’s fcking super important
Here’s what Banks says: As a visible symbol of the new beginning, Banks has let go of a large part of the clan members.
Banks says: He cannot apologize for anything (via kotaku) that feels right. He has seen how FaZe was poorly managed and how life was drained from the clan.
Now he wants to lead the brand back to the top. It has changed the lives of so many fcking people and is fcking super important.
FaZe belongs in history books and museums, not on a bag of fcking pizza rolls. Well, there it is.
What’s behind this: The ironic thing is that Banks acts as if the “commercialization of FaZe” occurred entirely against his will and as if he did not benefit from it at all. However, the growing commercialization fits perfectly with everything we know about FaZe Banks, who had previously pursued clear financial interests and acted quite unscrupulously. His role in the draconian contract with Tfue is not that of a cool buddy who looks after a young talent like an older brother but that of a tough manager who primarily thinks about money.
It is also noticeable that FaZe has been repeatedly criticized in the past for being ruthless when it comes to cashing in on its own name and image – often at the expense of the fans. There are many stories about dubious deals, even before the clan went public.
The ones suffering from this action are surely all those who acquired a share of FaZe. As for those on the other side of FaZe who lost their jobs with the takeover, you can read here: For a 24-year-old, being in the FaZe clan was a dream: but the dismissal is brutal.
