Disguised Toast is moving beyond streaming, but it’s coming at a cost

Jeremy Wang is known on Twitch as Disguised Toast. He has been known since the beginning as a shitposter. This streamer started his career by playing tricks and trolling other players on digital card games. Hearthstone. He joined OfflineTV in 2017, which was co-founded and run by Scarra and Pokimane. His followers have grown to 2.8M on Twitch, and 3.7M on YouTube through streaming games such as There are many of usAlongside other talents like Valkyrae or Corpse Husband.

Now, he’s trying something new. He’s the founder and owner of Disguised (DSG), a ValorantNorth American Challengers League team. Polygon spoke with Disguised Toast about Zoom and the reasons streamers have expanded their reach beyond livestreaming. He also discussed the challenges of creating an esports team. Polygon explained why gambling sponsorships are still possible even after Twitch’s controversy.

Polygon’s Disguised Toast said that he was amazed at the low profitability of esports. “I had heard about it, but I didn’t really understand it until I dove into the nitty-gritty of things.” He said that he’s prepared to lose “like a million bucks” in the venture over the next two years, but that he would reassess after that. For now, he’s looking to make the venture more profitable — even if it means raising money in controversial ways.

The topic of gambling and how streamers can promote it has been controversial among content creators for a long time. In 2021, Disguised Toast said he enjoyed gambling for fun with friends, but called gambling streams “weird.” In a YouTube video, he said: “These streamers have the disposable income and they get fat stacks to gamble. I don’t think you guys comprehend how much these gamba streamers are getting paid.” Fast forward to September 2022, and a group of major streamers, including OfflineTV co-founder Pokimane, called on Twitch to ban gambling streams.

On December 1, 2008, the on Podcast The Wisemen, Disguised Toast said that he wouldn’t accept crypto money but would be open to a gambling sponsorship, despite the controversy that surrounds it. “If it means now that my players can be covered for the next five years and they don’t have to worry, and my staff doesn’t have to worry, I would probably take it for good money, but if it’s going to keep me running for one year, it’s not worth it,” he said on the podcast.

Polygon asked him why he was open to gambling sponsorships. “I’m someone who always says, like, never say never,” he told Polygon, calling out the hypocrisy in the industry. “I think a lot of streamers like to be on high horses like, Yeah, I’ll never do X, Y, Z, and then they later do X, Y, and Z, because the money’s good.”

Disguised Toast is losing as much $500,000 per year due to the roadblocks, relative inefficiency of Disguised Toast’s new esports group. He said this in a YouTube video. He stated that he estimates the cost of paying his players and coaches would be as high as $30,000 per monthly. As Disguised Toast broadens his options outside the safer and more profitable world of streaming, it calls into question why he’s taking the financial risk of starting the esports team at all.

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“As far as my career goes, I’ve seen and experienced pretty much everything, like all the highs, all the lows. Being a professional videogamer is something many people dream of. This is basically a way to assist five children in pursuing their dream of playing video games for a living. And when I see the emotions they go through, it’s almost like I’m re-experiencing that.”

Disguised Toast says that his team offers players an opportunity to play and compete in order to fulfill their playing dreams. Valorant. Polygon asked if he saw the venture as a sort of charitable endeavor, because he’s not currently making money and he’s giving some players a chance to continue to play. “Um, no, when I think of charity, I think like, altruism, really nice guys. I wouldn’t say I’m one of those. I’d like to think I’m more of an opportunist. But I try to do things in a nice way.”

Disguised Toast isn’t exactly known for being a serious figure. His edgy comedic style has led some to question his character — and prompted him to defend himself and his actions. His team also has an edgy sense of humor, which is somewhat similar to a shitpost. This makes it seem like he’s laughing at the seriousness in other esports leagues. His team’s logo looks like it was handwritten with a mouse in MS Paint. Seeing him try to become a responsible business owner can be at odds with the image he’s cultivated so far.

“I’m very used to just bantering with people and being on the same level. I would like to do that but what I’m realizing is, when you work with younger talent, they kind of look to you to have your shit together to have an idea of what’s happening next. And truthfully, sometimes I have no idea what’s gonna happen next. You have to act like the role. That’s been an adjustment. So essentially, I have to act more mature, even though inside, I’m still pretty troll and I like to joke around. You see, I actually play video games full-time. I’m not that mature. That’s an adjustment.”

Disguised toast is just one of many prominent streamers to have expanded their reach and widened their audiences in the recent years. Streamers like Rachell “Valkyrae” Hofstetter have gone on to become co-owners of content creation companies and even released lifestyle products like a skin care line. Félix “xQc” Lengyel released an energy drink. Other entertainers, such as the Corpse Husband and others, are looking to play other entertainment roles like music.

When Polygon asked why so many streamers seemed to be shifting to projects outside of streaming, Disguised Toast said that he thinks some streamers just like the challenge of marketing themselves and “building an empire.” In Disguised Toast’s view, top streamers hit a point where they have done everything they can and then get approached by their agency to make products.

“I think that’s why a lot of streamers get into that, because streaming is not forever. Most streamers are in it for about 10 years. What do you do next? Right, so the streamers that think ahead, they want to get into business while they are still relevant, so they can leverage their platform into whatever they’re building.”