Some of FaZe Clan’s cheapest CSGO Major stickers are now worth more than shares in the company amid FaZe Clan’s financial troubles.
FaZe Clan’s financial troubles in 2023 have been well publicized. Despite not being the first esports and gaming org to be publicly listed on the Nasdaq exchange, it was one of the most high-profile additions in the space.
However, just nine months out after going public on the Nasdaq via a special purpose acquisition company (SPAC) with B. Riley Prinicipal 150 Merger Corp, the price per share dropped from $13 to the current $0.48. This has threatened FaZe from being delisted from the Nasdaq if their shares do not improve.
FaZe would eventually report a $53.2 million net loss in its first year as a public company, despite increasing revenue.
Though through all of the chaos, FaZe Clan’s pro teams have been performing well in their respective games, and this is most prevalent in their CSGO team.
FaZe Clan made it to the Paris Major 2023, the very last CSGO major before the switch to CS2. To commemorate the achievement, Valve created stickers for players and teams for their participation in the Major event.
Ironically enough, fans have since pointed out how FaZe’s glitter skins are selling slightly above the org’s stock prices. In fact, the cheapest glitter sticker – which is a tier above paper – their Rio 2022 sticker, is selling for $0.48. Which is the same price as FaZe shares as they stand today.
Although their paper stickers are significantly lower than glitter ones, with the cheapest at $0.07, they are generally seen as throwaways by most skin collectors.
However, FaZe is not alone in this. Astralis, another public esports company with a team in CSGO, is selling its stocks at $0.30. With most of their Major stickers also selling well above that amount.
FaZe Clan’s CSGO team is at this point legendary. With a Major trophy and an Intel Grand Slam on their belt, they are seen as one of the best orgs in the scene while skirting away from the company’s troubled financial status in the background.
FaZe will be playing the opening match of the Paris Major 2023 against Monte on May 8.