Indian Gaming Firm MPL Could Attract Investment From FTX: Report

MPL is looking to raise investment as part of its Series E extension at a valuation of $2.5 billion.

AccessTimeIconApr 4, 2022 at 6:32 a.m. UTC
Updated Apr 4, 2022 at 2:32 p.m. UTC

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

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.
  • MPL and FTX did not immediately respond to request for comment by CoinDesk.




Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.

CoinDesk - Unknown

Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.