India’s Mobile Premier League, or MPL, is in talks to raise capital from a number of investors including the crypto exchange FTX as the mobile gaming startup prepares to make a web3 push, three sources familiar with the matter told me. MPL, which counts Sequoia Capital India and RTP Global among its existing backers, operates over 60 mobile games including sports-based, card-based, fantasy and casual titles, but in recent weeks the startup has informed some existing and new potential investors that it plans to launch play-to-earn and NFT-based games later this year, the sources said, requesting anonymity as the deliberations are ongoing and they are not authorized to speak to the press. The startup has amassed over 5 million monthly active “cash playing” users, it disclosed in a December investor presentation, reviewed by me. In the presentation, MPL said it was building “the game distribution platform of tomorrow,” where over 500 million tournaments are already being played each month.