MPL is in Talks With Crypto Exchange FTX To Raise Capital Investment

 MPL is in Talks With Crypto Exchange FTX: India’s Mobile Premier League, or MPL, is in negotiations to acquire funds from a variety of investors, including the crypto exchange FTX, as the mobile gaming business prepares to make a web3 push.

As it prepares to extend its goods in a new, buzzy area, an investment will represent a dramatic shift in the Bengaluru-based startup’s future vision.

MPL has approximately 60 mobile games under its belt, including sports, card games, and fantasy games. It has told several existing and new potential investors in recent weeks that it wants to launch play-to-earn and NFT-based games later this year, according to the people, who asked to remain anonymous because the discussions are still continuing and they are not permitted to speak to the press.

MPL, which already has Sequoia Capital India and RTP Global as investors, has been aiming to secure fresh funding as a follow-on to its Series E deal, which is valued at $2.5 billion, according to one of the people.

The conditions of the investment might alter, according to the sources. By the time of publication, FTX had not responded to a request for comment.

MPL said in a December investor presentation that I read that it had over 5 million monthly active “cash playing” customers. According to the presentation, its monthly average income per user was around $5.

MPL stated in its presentation that it is developing “the game distribution platform of tomorrow,” with over 500 million tournaments played each month.