American record label Quality Control have invested an unspecified amount in XSET, an esports organization founded by former FaZe Clan executives.
XSET have raised $10m in funding to help them with further growth, though it’s unknown who else has contributed towards the funding round at the time of writing.
It’s been made public, however, that Quality Control have taken part in the capital raise. The label have major music artists like Migos, Lil Yachty, and Lil Baby on their books and they manage global star Cardi B too.
According to a report from The Washington Post, XSET and Quality Control will work together to collaboratively promote themselves through content and merchandise.
While the Digital Millennium Copyright Act (DMCA) has rendered playing music on Twitch streams almost impossible, Quality Control founder and CEO Kevin ‘Coach K’ Lee believes that changes are on the horizon that will allow these partnerships to be fully-faceted.
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“The big companies, whether it’s the Universals, the Sonys, the head companies, I think they’re working out the deals,” said Coach K. “Everyone’s making money, so you can’t cut us out on the music side.”
XSET was announced to the world in July 2020 when it was revealed that FaZe Clan’s former president Greg Selkoe, as well as Wil Eddins and Clinton Sparks, departed the gaming collective. It was initially framed as if Selkoe chose to leave, though sources close to the situation informed Dexerto that FaZe approached him in January 2020 to initiate his exit.
Join us and our newest partner @QCMusicMgmt in welcoming the future of Atlanta gaming, professional Fortnite player @Astonish2K, to XSET! 🥳🔥#RepTheSet | 🗣️ https://t.co/4rrrDsL4uj pic.twitter.com/9E8wR65h5W
— XSET (@XSETGAMING) February 25, 2021
Interestingly, some Quality Control artists are already involved with another esports organization. Lil Yachty is an official member of FaZe Clan, XSET’s founding partners’ old team, and Migos member Offset invested in them back in 2019. This may create some complications if these artists are wanted to appear in XSET content, for example.
Rapper Swae Lee, who’s one half of hip hop duo Rae Sremmurd, invested an undisclosed sum in XSET back in October 2020. He initially claimed that he had invested eight-figures into the org, but they later clarified that this wasn’t the case.