According to sources that spoke with TechCrunch, the cryptocurrency exchange company FTX is interested in investing in India’s Mobile Premier League. This comes ahead of the mobile esports start-up’s push into web3 gaming. These sources said that FTX is one of several organizations interested in potentially investing in the MPL.
The news didn’t stop there, though. The sources also said that the MPL informed potential and new investors that the company is looking to launch both play-to-earn games and NFT games later this year.
Sources also said that the terms of these investments could change over time. FTX did not respond to a request for comment. Meanwhile, an MPL spokesperson said, “as a company policy, we do not comment on speculations.”
The Mobile Premier League is one of the largest global esports ecosystems and platforms with an offering of more than 70 games. This Karnataka, India-based gaming organization was founded in 2018. Today, the company boasts more than 90 million users in Indonesia, the United States, and India.
The Profit‘s Take:
FTX has been incredibly active when it comes to investing in the video game market, so I guess it’s no surprise that they are interested in this too. And, of course, India is fascinating from a gaming standpoint because the country has such a large, booming mobile gaming market. I mean, how many many mobile esports leagues do you see in North America? All crypto companies know that the opportunities in gaming are massive. However, reaching gamers effectively has become an entirely different challenge for these organizations. Maybe that’s why a lot of these crypto gaming companies have hit a wall. Binance, CoinBase, FTX, and so on have all hit similar walls. Everybody is paying attention to the intersection of gaming and crypto because there’s massive potential if you get both right.
(All information was provided by LinkedIn and TechCrunch)
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