Crypto exchange FTX to enter Web3 GameFi March 2022?

1 min read

 Sam Bankman-Fried and Lauren Remington Platt of FTX (Joe Schildhorn/BFA.com)

The cryptocurrency gaming industry is one of the most innovative and exciting markets around at the moment, with massive potential. So it’s only natural that more and more companies are wanting to get involved. The latest is MPL, who is looking to raise investment as part of its Series E extension at a valuation of $2.5 billion.

Cryptocurrency exchange FTX is in talks to invest in Indian gaming firm Mobile Premier League (MPL), TechCrunch reported, citing sources familiar with the matter.

  • MPL is in talks with several investors, including FTX, as it looks to push into Web 3 gaming, the report said. Earlier this year, FTX had created a gaming unit to boost crypto adoption in gaming, according to a previous report.
  • The Indian gaming firm, which counts Sequoia Capital India and RTP Global among its investors, has several mobile video game titles under its umbrella in genres ranging from sports and card games to fantasy games. The firm had earmarked Rs 2,000 crore (US$265 million) for its popular fantasy cricket league in which players can win up to Rs 1 crore.
  • 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.

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