Dive Brief:

• Esports giant FaZe Clan announced a multi-year partnership with luxury sports car manufacturer Porsche AG, according to a press release. The deal was made in collaboration with UTA.
• The deal includes original content, esports initiatives, consumer products and digital goods in the Web3 space, all due for release in 2023. Porsche will also become the official partner of all of FaZe Clan's esports teams.
• The partnership allows Porsche to tap into the intersection of gaming and youth culture as it seeks to engage with younger consumers that have begun to drive growth in the luxury market.

Dive Insight:

Porsche and FaZe Clan's new partnership looks to put the luxury sports car brand in the driver seat with young consumers that live at the intersection of gaming and youth culture. For Porsche, the deal builds on previous efforts to engage with the next generation of luxury shoppers.

"Porsche has been deeply involved in gaming and esports for several years, with a clear focus on racing — staying true and authentic to the heritage and DNA of the brand," said Robert Ader, CMO of Porsche AG, in the press release. "Throughout our discussions, we've seen that FaZe and Porsche share similar core values of performance and innovation."

Billed as a first-of-its-kind, the partnership spans several established and emerging channels, kicking off with a content series featuring FaZe Clan members. The brands will also team up for consumer products and digital goods in the Web3 space, while Porsche will become the official partner across all of FaZe Clan's esports teams.

Themed around making dreams into reality, the tie-up comes as younger consumers embrace luxury brands. Millennials and Gen Z accounted for all of the luxury market’s growth last year, according to a report from Bain & Co. cited by CNBC. Previous gaming and esports deals and activations have spanned automakers including Lexus, Toyota and Honda.

The deal is another major move by FaZe Clan to connect with leading brands. The organization in 2021 teamed with McDonald's to produce dynamic content focused on diversity and inclusion in gaming. FaZe Clan has faced controversies around an alleged crypto scam and discriminatory language that demonstrate brand safety issues still prevalent in the esports and gaming communities.