CryptocurrencyCryptocurrency Exchanges

FTX Mulls Investing in India’s Biggest Fantasy Sports Platform

The MPL in India is searching for investors to help it generate $2.5B in funding. According to sources, MPL discusses with several investors, like the cryptocurrency exchange FTX. It’s all a component of Unicorn’s strategy to grow and promote Web 3 gaming.

MPL Aiming to Raise Money at a Valuation of $2.5 Billion

As per TechCrunch, the Indian business is considering entering the famous cryptocurrency-linked products market. Mobile Premier League presently hosts over 60 smartphone games of various genres. However, before the end of 2022, it intends to offer Non-Fungible Tokens and play-to-earn games. According to the article, Mobile Premier League is pursuing more investment as part of its Series E round. The money would be generated at a worth of $2.5B.

It’s intriguing to see an Indian company decide so soon after the revised 30 percent tax and 1 percent TDS cryptocurrency laws were implemented for cryptocurrency profits and trades, respectively. However, Mobile Premier League’s competitor fantasy game platform Dream11 is contemplating a $100M investment in Rario, an NFT-based firm. However, FanCraze, a Cricket Non-Fungible Token startup company, also plans to enter the gaming market.

MPL revealed that it gets $5 in total income from each of its over 5M playing active monthly players. Monthly, the company hosts about 500M tournaments. According to the story, Officials have declined to answer questions on any conjecture.

CEO of FTX Intends to Give Away all His Riches

People who work for an energy company say that CEO Sam Bankman-Fried has over $20B. Meanwhile, he is no longer interested in becoming wealthy. Sam intends to save only enough money for day-to-day expenses, or 1 percent of his wages, or at least $100K yearly. He still wants to donate all of his money, whether in USD or BTC. If you look at CoinsMarketCap, FTT is the 27th most popular cryptocurrency. It is worth more than $6.8B in the total market cap.

GameDuell Acquired by India’s MPL

This week, India’s MPL expanded into Europe by acquiring GameDuell, a casual internet skill games creator. MPL has expanded its global footprint to include North America, Europe, and Asia. Mobile Premier League, located in Bengaluru, India, became the first Unicorn in smartphone esports when it acquired $150M at a $2.3B value during September. It is pretty impressive for a startup founded by Shubh Malhotra and Sai Srinivas in 2018.

A portion of the proceeds was utilized to obtain the Berlin-based GameDuell as part of the company’s global expansion efforts. It’s fascinating to watch Indian corporations acquiring Western game businesses, such as Byju’s. People in India are getting better at playing games and making money.

If you want to play a casual online skill game, you can choose from forty games in 7 languages that you can play online. Cards and board games that can be played with other people, as well as a cross-platform society for gamers

Mobile Premier League’s entry into the free-to-play smartphone industry is also a result of this decision. Mobile Premier League has been concentrating on various sections to provide users with esports and gaming experiences. Both Indian and worldwide audiences would benefit from the GameDuell administration team’s extensive experience producing multiplayer games such as chess-like board games, action-adventure games, and puzzle and strategy games. Employs over 1K people across 6 cities and has generated over $375M. There are over seventy games in total.

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