India's eSports and mobile gaming platform Mobile Premier League (MPL) is reportedly in talks with the FTX cryptocurrency exchange for a new funding round as the platform is seeking new business ways, including Web3, TechCrunch has learned, citing three sources familiar with the matter.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the report, MPL focused on crypto investors after it had informed some of its investors about plans to launch play-to-earn and NFT-based games later this year. Although the size of the deal was not disclosed as the deliberations are still ongoing, the Bengaluru-based company might want to extend its current Series E round at a $2.5 billion valuation, one of the sources added.
Founded in 2018, MPL raised a total sum of $375.5 million, according to data from Crunchbase. As per reports, MPL amassed over 5 million monthly active "cash playing" users.
Earlier in February, Bloomberg reported that FTX is set to launch its own gaming unit to boost the adoption of cryptocurrencies, NFTs and blockchain technology in video games. The exchange reportedly plans to operate the so-called FTX Gaming arm through its own US affiliate — FTX.US. The arm will work in the form of a "crypto-as-a-service" platform where gaming companies could launch their tokens.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.