**Mayhem Studios, owned by MPL, secures $20 Million Funding with Sequoia Capital Leading the Investment**
On April 11, it was reported that Mayhem Studios, a studio owned by Mobile Premier League (MPL), an Indian P2E game development company, announced that it had completed the financi
On April 11, it was reported that Mayhem Studios, a studio owned by Mobile Premier League (MPL), an Indian P2E game development company, announced that it had completed the financing of $20 million, with Sequoia Capital leading the investment, Steadview Capital, Truecaller and other investors. MPL launched Good Game Exchange (GGX) in the NFT market last month, and also launched a Web3 gaming strategy based on playing while earning P2E as part of the group’s development plan. （Economictimes）
Mayhem Studios completed financing of $20 million, and Sequoia Capital led the investment
**Introduction**
On April 11, 2022, EconomicTimes reported that Mayhem Studios, a studio owned by Mobile Premier League (MPL), an Indian P2E game development company, announced that it had completed the financing of $20 million, with Sequoia Capital leading the investment, Steadview Capital, Truecaller and other investors. This major fundraising event is regarded as a significant milestone for Mayhem Studios and MPL, who are seeking to develop further in the NFT market and as part of their overall strategic development plan by launching a Web3 gaming strategy based on playing while earning P2E.
**Outline**
1. Introduction
2. An Overview of Mayhem Studios
3. Details of the Funding and the Investors
4. MPL’s NFT Market and Web3 Gaming Strategy
5. Significance of Funding for the Indian Game Industry
6. Future Prospects of Mayhem Studios and MPL
7. Conclusion
8. FAQs
**An Overview of Mayhem Studios**
Mayhem Studios is a game development company owned by MPL, a popular P2E gaming platform in India. Mayhem Studios is known for creating casual hyper-casual games and partnering with celebrities, influencers and YouTubers for its game promotions. The team consists of experienced game developers from renowned companies like Supercell, Rovio, and EA Sports.
**Details of the Funding and the Investors**
Mayhem Studios completed the financing of $20 million, with Sequoia Capital, Steadview Capital, Truecaller and other investors leading the round. The funds will be used to expand the team and develop more games, including in the NFT market and Web3 gaming strategy. Sequoia Capital is a well-known venture capitalist firm that has invested in many successful startups, including Google, Airbnb, and PayPal. Steadview Capital is also a leading global investment firm that has previously backed companies such as Flipkart, Ola, Byju’s, and more.
**MPL’s NFT Market and Web3 Gaming Strategy**
MPL recently launched the Good Game Exchange in the NFT market to allow gamers to trade their NFTs. Additionally, Mayhem Studios is working on developing new NFT-based games to stay ahead of the curve. MPL’s ultimate plan is to expand into the Web3 gaming space by allowing players to earn money while playing games in the P2E format. This means that players will be able to earn cryptocurrency or fiat currency in exchange for their gameplay.
**Significance of Funding for the Indian Game Industry**
The funding of Mayhem Studios is significant for the Indian game industry, which has seen massive growth in the past few years. The Indian game industry has been valued at $2 billion and is expected to grow to $5 billion by 2022. The investment in Mayhem Studios shows that venture capitalists are taking notice of the potential of gaming companies in India and are investing accordingly. This is a positive sign for other game development companies in India who are seeking funding to expand.
**Future Prospects of Mayhem Studios and MPL**
The $20 million funding is expected to bring significant growth to Mayhem Studios and MPL. With the funds, Mayhem Studios plans to expand the team and develop more games for the NFT market and Web3 gaming strategy. MPL plans to continue dominating the P2E gaming space by making sure that games developed by Mayhem Studios are accessible to gamers on their platform. The future looks bright for Mayhem Studios, and this funding will undoubtedly help them achieve their goals.
**Conclusion**
Mayhem Studios, owned by MPL, has successfully completed funding of $20 Million, led by Sequoia Capital, Steadview Capital, Truecaller and other investors, as they seek to develop further in the NFT market and launch a Web3 gaming strategy based on playing while earning P2E. The funding is significant for the Indian game industry as it shows the potential of gaming companies in India and how venture capitalists are investing accordingly. The future looks bright for Mayhem Studios, and this funding will undoubtedly help them achieve their goals.
**FAQs**
**Q1. What is MPL, and what is their business model?**
MPL is a popular P2E gaming platform in India that allows users to earn rewards while playing games. The platform offers various skill-based games such as chess, ludo, cricket, and more.
**Q2. What is P2E, and how does it work?**
P2E is a relatively new concept in the gaming industry, which allows players to earn cryptocurrency or fiat currency in exchange for their gameplay. Players can earn rewards by playing games with certain conditions, such as winning a game or completing a mission.
**Q3. What is the NFT market, and how does it relate to the gaming industry?**
The NFT market is a new and booming market for digital assets that are unique and irreplaceable. In the gaming industry, NFTs are used to authenticate ownership of in-game assets such as skins, weapons, and virtual real estate. Mayhem Studios and MPL are seeking to develop more NFT-based games to stay ahead of the curve.
**Keywords**
Mayhem Studios, MPL, P2E, NFT market, Web3 gaming strategy, Sequoia Capital, Steadview Capital, Truecaller, $20 million funding, Indian game industry.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/20758.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
What currency is neogas
What currency is neogas? According to official sources, neogas is a token issued based on EOS, with a total of 21 million tokens. According to the official website, NEO is a decentralized distributed cloud computing network system dedicated to applying blockchain technology to various fields including DeFi, NFT, and gaming It is understood that neosGAS is a lossless lottery project that is obtained through mining. Users do not need to pay gas fees for participation to obtain profits, and it supports multi chain operation and sustainable ecological construction; Holders can enjoy the dividends brought by platform governance rights and voting rights, while contributing to the future development of the platform. (BlockBeats) What currency is neoAccording to Bitcoinist, neo is a currency and payment network. According to definition, NEO is a digital asset based on blockchain. Like Bitcoin, neo is not issued by anyone, nor does it rely on any entity to hold its Cryptocurrency on behalf of users. Due to…
-
Why is GPU Suitable for Mining (What Can GPU Mine)
Why is GPU Suitable for Mining Editor\’s Note: This article is from the FHBT18 co
-
Solana Labs Launches Encrypted Smartphone Saga at $1000
According to reports, Solana Labs has announced that its encrypted smartphone Saga will be publicly available on May 8th. Currently, the ordered device has started shipping. This p
-
Blur Offers 300 Million BLUR Tokens to Reward 100% Loyalty among Users
It is reported that Blur, the NFT trading market, announced that it would distribute 300 million BLUR tokens in the incentive activities in the second quarter,…
-
BCB Group Set to Raise $20 Million in Convertible Note Financing Round
It is reported that the source said that BCB Group, a crypto financial service company, is raising funds through convertible notes, which will be converted int…
-
Bitcoin Lightning Network Nodes Continue To Grow
According to the report, 1ML data shows that the current number of Bitcoin lightning network nodes is 16052, an increase of 0.65% in the past 30 days; The numb…
-
Raising the Debt Ceiling: What it Means for the US Economy
According to reports, according to Punchbowl, the US Republican Party has proposed raising the debt ceiling by $1.5 trillion or extending it until March 31 next year.
US Republican -
Dragon Egg Airdrop Ends, Free NFTs Available on FreeNFT Platform
According to reports, DigiDaigaku announced on its official social media account that the Dragon Egg airdrop has ended. At the same time, DigiDaigaku also stated that if users miss previous official registrations, there are currently 2500 free Dragon Eggs available on the FreeNFT platform. Dragon Egg launched an air drop for NFT holders of the ecosystem (including Genesis, Heroes, and Super Villains) on the 12th of last month to help baby dragons grow and evolve. DigiDaigaku: Dragon Egg airdrop has ended Analysis based on this information:DigiDaigaku, a blockchain-based education platform based in Japan, recently announced through its official social media account that the Dragon Egg airdrop has officially ended. According to the announcement, the airdrop was designed to help baby dragons grow and evolve. The airdrop was targeted at NFT holders within the ecosystem, which included Genesis, Heroes, and Super Villains. The recent announcement means that the airdrop is no longer available to new users. However, DigiDaigaku assured users that…
-
What is OKT trading (what happened to the OK exchange)
What is an okt transaction and what is an okt transaction? What is OKT trading? It is achieved through decentralized exchanges on OKExChain. It allows users to conduct transactions without trusting a third party (i.e., an unmanaged, unlicensed network) and obtain one or more tokens as rewards: BTC, ETH, EOS and other Cryptocurrency OKT is composed of tokens and platform tokens issued by OKEx, representing the value transmission medium of the blockchain world. OKB will be used as the underlying asset for payment protocols such as Bitcoin Except for margin contracts, anyone can participate in transactions in OKExDEX to ensure the safety and efficiency of transactions At present, the most popular ERC20Token based on Ethereum in the market is the original TokenOKX of OKExChain. According to the official introduction, OKT is a decentralized peer-to-peer digital currency trading network that enables users to securely exchange various mainstream tokens. This project is committed to establishing a new decentralized financial model that provides…
-
What Can Spark Mining Do? (What Coins Can Be Mined in Spark Mining?)
What else can be done in Spark Mining? Besides Ethereum, what projects on other