Crypto giant FTX in talks to invest in Indian gaming start-up MPL
India’s Mobile Premier League, or MPL, is in talks to raise capital from a number of investors including the crypto exchange FTX as the mobile gaming start-up prepares to make a web3 push.
MPL operates more than 60 mobile games, including some that are sports-based, card-based and fantasy. In recent weeks, it has informed some existing and new potential investors that it plans to launch play-to-earn and NFT-based games later this year.
MPL has been looking to raise the investment as an extension to its Series E round, at a valuation of $2.5
billion, the report added, citing a source.
A handful of established start-ups in India are beginning to explore opportunities in the web3 space. Dream11, MPL’s chief rival in India, is looking to lead a $100 million investment in NFT start-up Rario, TechCrunch reported earlier. Cricket NFT start-up FanCraze, which was recently valued at $500 million in a round led by Insight Partners, plans to expand into gaming.
Written By- Shriyansh Jain