FTX is considering making an investment in India’s largest fantasy sports platform

The Mobile Premier League (MPL) in India is searching for investors to generate $2.5 billion in capital. According to sources, MPL is in talks with a number of investors, including the cryptocurrency exchange FTX. It’s all part of Unicorn’s strategy to grow and promote Web 3 gaming.

MPL is aiming to raise money at a valuation of $2.5 billion

 

The Indian business is considering entering the popular crypto-linked products market. MPL presently hosts over 60 mobile games of various genres. Meanwhile, before the end of the year, it intends to offer NFT and play-to-earn based games.

MPL is seeking more investment as part of its Series E round, according to the article. The money will be raised at a valuation of $2.5 billion.

It’s intriguing to see an Indian company make such a move so soon after the new 30% tax and 1% TDS crypto laws were implemented for digital asset profits and transactions, respectively. Meanwhile, MPL’s competitor fantasy game platform Dream11 is contemplating a $100 million investment in Rario, an NFT-based firm. Meanwhile, FanCraze, a Cricket NFT startup, is planning to enter the gaming market as well.

MPL revealed that it gets $5 in average revenue from each of its over 5 million “cash playing” active monthly players. Every month, the company hosts about 500 million tournaments. Officials, according to the story, have refused to comment on any conjecture.

The CEO of FTX intends to give away all of his riches

 

According to Bloomberg, FTX CEO Sam Bankman-Fried is worth more than $20 billion. Meanwhile, he is no longer interested in becoming wealthy. Sam intends to save only enough money for day-to-day expenses, or 1% of his wages, or a minimum of $100,000 every year. He still wants to give away all of his money, whether it’s in dollars or Bitcoin.

FTT, FTX’s native token, is the 27th largest cryptocurrency according to CoinsMarketCap. It is worth more than $6.8 billion in total market capitalization.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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