Faze Clan is indeed an American professional esports as well as entertainment company based in Los Angeles. The group, which was founded on May 30, 2010, includes members from all over the world who play games such as FIFA, Fortnite Battle Royale, Rocket League, PlayerUnknown’s Battlegrounds, Tom Clancy’s Rainbow Six Siege, Call of Duty, Valorant, and Counter-Strike: Global Offensive. The company entered the Asian market in 2020, purchasing a Thai PUBG Mobile and FIFA Online roster. On June 10, 2021, Faze Clan has become the first esports team to be designated Sports Illustrated.
Faze Clan, a popular videogames group is known for its vlogs as well as streetwear releases, has been criticized for cryptocurrency sponsorships that have already cost their followers money. Although fraud has still not been established, many of us are wondering if members of the organization used their popularity to encourage a poor investment to hundreds of thousands of young and susceptible followers.
Huge loss to fans
In brief, in June, a cryptocurrency token entitled ‘Save The Kids’ was created, which is digital money on the blockchain which can be exchanged as well as invested in. This particular token stood out because it assured users that a portion of the earnings would be donated to charity. Ricegum and Faze Nikan were among the influencer ambassadors who conveyed details of the coin’s production and also launching via their respective fan groups. But later on, the coin’s value appeared to be stable for a day or two before plummeting. Anyone else who bought tokens wasted hundreds of times their money, with the price falling from a cent to a tenth of a penny.
Many of the band’s followers invest heavily into the plan, assuming that the high profile of those promoting it would secure their investment, only to have their money vanish almost instantly.
Following the demise of Save The Kids, one of Faze’s members, Kay, apologized to his fans on Twitter.
I want you all to know that I had no ill intent promoting any crypto alt coins. I honestly & naively thought we all had a chance to win which just isn’t the case. I didn’t vet any of this with my team at FaZe and I now know I should have.
— FaZe Kay (@FaZeKay) June 27, 2021
From Faze clan
Kay has been kicked out of FaZe Clan, and Jarvis, Nikan, and Teeqo have been prohibited till further notice. FaZe Clan had no participation in our members’ cryptocurrency-related activities, and we totally reject their current actions.
A statement from FaZe Clan. pic.twitter.com/HnPXpAoSYX
— FaZe Clan (@FaZeClan) July 1, 2021