The Esports Bubble Pops: What Happened to FaZe Clan's $725 Million Dream? The esports industry was touted as the future of entertainment, with revenue and attention rivalling traditional sports.
However, six years after COVID 19 reshaped the world, it's hard not to wonder what went wrong. FaZe Clan, one of the most hyped teams in the industry, was valued at a staggering $725 million just a few short years ago.
Today, its IPO looks like a meme stock. The problem with esports is that it's built on hype and expectation.