Snoop Dog is abandoning Faze Clan, the consequences of which could be dire for the esports company.
If you’re not lucky, you’ll also get bad luck on top: That’s about how those responsible for Faze Clan must feel at the moment. Having recently been threatened with being delisted by the NASDAQ, perhaps the most prominent face is stepping down from their board of directors, rapper Snoop Dog.
Snoop Dog’s departure
The rapper was persuaded by Faze 2022 to join their board of directors. In the first place, this should all activities of the clan awarded in terms of marketing impetus. Snoop Dog not only got a place at the top of the company, but also shares, among other things valued at $1.9 million at the time. Today, however, with a share price of around 50 cents, they are probably worth far less. Because a Faze Clan security changed hands on August 30, 2022 for around $25.
What are the consequences for Faze? According to Kotakubrought Snoop Dog around 100 million social media reach, depending on the calculations. This following is spread across Twitter, Instagram, and TikTok. That’s about 1/5 of Faze Clan’s previous reach. And range usually means: potential to collect moneyespecially considering the case of Faze Clan.
What is Faze Clan up to?
To put it simply, Faze Clan wanted to monetize the crowds of fans around their teams, streamers and content creators. That didn `t work. It is certainly only one of several factors that caused the Faze Clan to fail, but according to the portal it was a decisive factor Sports Business Journalthat there has been a lull in investment in esports over the past year.
As reported by PCGamerFaze Clan is sticking to its goal of positioning itself in the e-sports market in the long term and continuing to grow. According to reports that we also picked up recently, they were looking for funds to buy their way out of the stock market. That should now after Departure of Snoop Dog not get easier.
What do you say about the story? Do you think that e-sports have nothing to do with stock exchange trading? Can you understand Snoop Dog or do you think the rapper cowardly backed down? Let us know what you think in the comments!
