SoFi Gets First On

SoFi on-jersey logo on Misfits Call of Duty player

SoFi scored what appears to be a first in esports in a recent deal with Misfits Gaming that puts the fintech company's logo on in-game jerseys of the esports organization's Call of Duty and Overwatch teams, among other provisions.

On-jersey brand patches are well-established marketing tools in more traditional sports. English Premier League PINC soccer has blazoned huge corporate sponsor names across its teams’ jerseys for years. More recently, the NBA started allowing small brand patches on the upper left front of each of team jerseys, though other major US sports still haven't signed off.

The Misfits SoFi virtual "patches" on the back of players’ in-game avatars are large enough to be easily visible for anyone watching a match on their computer or a connected TV, but still relatively modest in size.

The deal has three "macro buckets" or "pillars," said SoFi CMO Lauren Stafford Webb:

SoFi is also doing a financial education program for Misfits team members, in line with the company's pitch about improving lives both in gaming and in finances.

"We're also offering sessions to the players that teach them how to invest and how to think about getting their moneyright, so that they can achieve financial independence," Stafford Webb said. "So it's really a mix of content, in-game integration, and really focused on how we can not just build awareness, but build authentic relationships with gamers and their viewers."

The Misfits organization, which is based in Boca Raton, Fla., has two teams, the Florida Mutineers in Call of Duty and the Florida Mayhem of Overwatch. Both games are published, and tightly controlled, by Activision ATVI . Misfits also has a third team, Misfits Gaming, in the League of Legends European Championship circuit, that is not covered in the deal.

SoFi initially began working with Misfits last year, and the new deal expands that relationship considerably.

The company said its initial forays with Misfits helped improve brand trust among Misfits followers by 56 percent, and "brand consideration" by 258 percent, notable in a crowded market of next-gen finance apps trying to connect with mobile-savvy younger potential customers.

SoFi has plenty of other marketing investments, most notably as the naming sponsor on the $6 billion Inglewood, Calif., stadium where the NFL's Los Angeles Rams and Chargers play. That 20-year deal was signed in 2019, and shepherded by SoFi CEO Anthony Noto, a former CFO for the NFL.

And though the pandemic's initial months bruised the esports business model by forcing the cancellation of many live events and tournaments, it hasn't kept other brands from getting into the sector.

Two alcoholic beverage lines, Twisted Tea Iced Tea and Truly Hard Seltzer, signed a multi-year deal with 100 Thieves, the big Los Angeles esports, apparel and social-media collective. Under the deal announced Friday, the brands will become the team's "official hard seltzer and hard iced tea." The Boston Beer Company SAM owns the two drink lines.

The new deal came out of an activation last year with one of 100 Thieves’ best-known personalities, CouRage, who now is a brand ambassador for Twisted and Truly. He will host happy hour co-streams with other 100 Thieves talent. Owners of 100 Thieves include singer Drake, music mogul Scooter Braun, and Rocket Mortgage/Quicken founder Dan Gilbert. Twitter and Square SQ CEO Jack Dorsey has also been an investor.