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Cryptocurrency exchange FTX is in talks to invest in Indian gaming firm Mobile Premier League (MPL), TechCrunch reported, citing sources familiar with the matter.
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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.
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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.
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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.
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MPL and FTX did not immediately respond to request for comment by CoinDesk.
Read more: FTX Starts Gaming Unit to Promote Crypto Adoption: Report