XSET Market Research Report
Overview
XSET is an innovative American gaming and lifestyle brand founded on July 16, 2020, by former FaZe Clan executives, headquartered in Boston, Massachusetts. XSET is deeply rooted in esports and gaming culture, with a strong emphasis on diversity and inclusion. The brand rapidly emerged as a cultural lifestyle hub by merging the virtual and physical worlds through various platforms, including esports, merchandise, and collaborations with prominent figures and brands.
Leadership Team
- Greg Selkoe: Co-Founder & CEO. Formerly president of FaZe Clan and founder of Karmaloop, Selkoe leads XSET's vision towards inclusivity and diverse representation within the gaming industry.
- Wil Eddins: Co-Founder & Chief Creative Officer. With a background in apparel and special projects at FaZe Clan, Eddins contributes to XSET’s creative and strategic initiatives.
- Steve Birkhold: Chief Operating Officer. Joining in 2021, Birkhold brings experience from the fashion industry, with executive roles at companies like Diesel, Lacoste, and Bebe.
- Bryanna Goecke: Chief Revenue Officer. Goecke focuses on maximizing partnership opportunities and revenue streams, leveraging her background in psychology and sociology.
- Erin Ashley: Chief Culture Officer & Co-Owner. Contributes to shaping the company’s identity and cultural outreach.
Brand and Culture
XSET champions the blend of gaming with music, sports, fashion, and culture. The organization is committed to storytelling and community empowerment, enhancing diversity and social consciousness. XSET's high-profile collaborations with artists and athletes such as Swae Lee, Ozuna, Lil Wayne, Tee Grizzley, and Ezekiel Elliott underscore its commitment to cultural integration.
Key Collaborations and Partnerships
- Cody "Clix" Conrod: Signed on as a co-owner and ambassador in 2023, boosting XSET's presence in Fortnite with exclusive merchandise and in-game activations.
- Quality Control Music: As an investor in a $10 million funding round, strengthens the connection between music and gaming.
- SCUF Gaming, HyperX, and Roots Canada: These partnerships emphasize XSET's ambitions in merchandising and tech accessory ventures.
Competitive Edge and Expansion
XSET maintains competitive teams in several major esports titles, including Fortnite, Rocket League, Call of Duty, and Apex Legends. The acquisition of Queens Gaming Collective in April 2023 amplified its influence in women's gaming, while the signing of humanoid robot Sophia marked a unique milestone in gaming partnerships.
Financial Overview
XSET completed a $15 million Series A funding round led by LightWork Worldwide, strengthening its growth trajectory as a leading gaming lifestyle brand. The organization’s estimated annual revenue is $8.2 million, with a per-employee revenue of $164,000. Despite experiencing a -9% growth in workforce, the company continues to leverage its market presence effectively.
Offices and Operations
XSET has prominent operations in Boston and Los Angeles and is expanding its cultural footprint to include innovative retail and event spaces like gaming cabanas at Drai’s Beachclub in Las Vegas. The organization operates with a workforce of 50 employees, maintaining a contemporary focus on diversity, innovation, and cultural engagement.
Competitor Profiling
XSET's Competitive Landscape
XSET operates within a competitive market of notable organizations:
- 100 Thieves: A premier lifestyle and gaming organization headquartered in Los Angeles, focusing on competitive games, entertainment, and apparel.
- Cloud9 Esports, Inc.: One of the most successful and visible esports organizations, located in Santa Monica, California.
- OpTic Gaming: Recognized for its #Greenwall community, OpTic has a strong presence in esports, particularly in competitive Call of Duty gaming.
- Other competitors include GamingLyfe Network, LLC, and Leviatan, highlighting a robust competitive environment in the esports landscape.
Strategic Insights
XSET's strategy is to intertwine gaming with music and fashion, creating a unique identity within the esports and digital lifestyle market. Their emphasis on culture and innovation is supported by high-ranking executives focusing on diverse strategic areas, such as culture, merchandise, and experience. To remain competitive, XSET utilizes partnerships and lifestyle offerings, which present actionable insights for targeting collaborations or competition within the sector.
