FTX May Invest In Mobile Premier League (MPL), India’s Largest E-Sports Gaming Platform
The Mobile Premier League (MPL) in India is looking for investors to fund capital at a $2.5 billion valuation. According to sources, MPL is in talks with a number of investors, including the crypto exchange FTX. It’s part of the Unicorn company’s strategy to create and promote Web 3 gaming.
MPL Is Looking to Raise a $2.5b Fund
According to TechCrunch, reports have confirmed that the Indian firm is trying to enter the cryptocurrency-linked industry. MPL now operates over 60 mobile games of various genres. Meanwhile, it intends to launch NFT and play-to-earn games by the end of this year. The report continues to state that MPL is looking for more investment as part of an extension of its Series E round. The funding will be raised at a valuation of $2.5 billion.
It is interesting to see such a move by an Indian company so soon after the new 30% tax and 1% TDS crypto laws were imposed for digital asset gains and transactions, respectively. Meanwhile, MPL’s competitor fantasy game platform Dream11 intends to invest approximately $100 million in Rario, an NFT-based firm. Meanwhile, FanCraze, a Cricket NFT startup, intends to enter the gaming market as well.
MPL reported that it makes $5 in average revenue from each “cash playing” active monthly user, with over 5 million “cash playing” active monthly users. Every month, the company hosts about 500 million tournaments. However, according to the report, officials refused to comment on any speculation.
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FTX May Invest In Mobile Premier League (MPL), India’s Largest E-Sports Gaming Platform
The Mobile Premier League (MPL) in India is looking for investors to fund capital at a $2.5 billion valuation. According to sources, MPL is in talks with a number of investors, including the crypto exchange FTX. It’s part of the Unicorn company’s strategy to create and promote Web 3 gaming.
MPL Is Looking to Raise a $2.5b Fund
According to TechCrunch, reports have confirmed that the Indian firm is trying to enter the cryptocurrency-linked industry. MPL now operates over 60 mobile games of various genres. Meanwhile, it intends to launch NFT and play-to-earn games by the end of this year. The report continues to state that MPL is looking for more investment as part of an extension of its Series E round. The funding will be raised at a valuation of $2.5 billion.
It is interesting to see such a move by an Indian company so soon after the new 30% tax and 1% TDS crypto laws were imposed for digital asset gains and transactions, respectively. Meanwhile, MPL’s competitor fantasy game platform Dream11 intends to invest approximately $100 million in Rario, an NFT-based firm. Meanwhile, FanCraze, a Cricket NFT startup, intends to enter the gaming market as well.
MPL reported that it makes $5 in average revenue from each “cash playing” active monthly user, with over 5 million “cash playing” active monthly users. Every month, the company hosts about 500 million tournaments. However, according to the report, officials refused to comment on any speculation.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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