What is FaZe media? FaZe Banks starts new company with $11 million investment

FaZe Richard "Banks" has started a new venture called FaZe Media, which is a creator-led intellectual property creation, management, and media company. As per GameSquare Holdings Inc., FaZe Clan's parent company, the newly formed entity has been backed up by an $11 million investment from Matt Kalish.

To those unaware about Kalish, he is also the co-founder and president of DraftKings North America, which is a fantasy sports betting company. He is set to act as a board member of FaZe Media. As this is a "creator-led" IP company, it is going to include the current roster of FaZe Clan as well as its non-esports-related aspects.

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GameSquare announces FaZe Media as new subsidiary with Banks acting as CEO

GameSquare, an esports investment company, completely acquired FaZe Clan on March 8, 2024, and inducted Banks as its CEO. This allowed the organization to be under the direct control of one of FaZe Clan's original members once again.

That was followed by the "reboot" of the organization in April, with layoffs affecting more than a dozen creators who had become a part of the roster over the years. After that, FaZe recruited new members as well, including FaZe Max, FaZe Silky, FaZe Jason, and FaZe Lacy, bringing the total number of members on the roster to eighteen.

Now, FaZe Media has been formed with banks acting as its CEO as well. It will act as another subsidiary of GameSquare, with the company holding 51% of the new venture and 49% being held by Matt Kalish. Justin Kenna, the CEO of GameSquare, and Matt Walish will both be serving as board members.

The internet media company is aimed at allowing FaZe Clan to build its brand IP amid the recent structuring. Further, it will enable the development of new content by opening up new licensing and sponsorship avenues for the FaZe brand. The company is also expected to be responsible for the merchandise, event-hosting, and other activities related to the esports organization.

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With the upcoming Esports World Cup taking place in Riyadh, Saudi Arabia, concerns about the dissipation of the esports division of FaZe were addressed by FaZe Apex. He discussed the roadmap of the clan's efforts as well as those of his own to participate in the upcoming cup for "FaZe's sake." He also talked about the qualification of the group's teams for different game categories in the cup.