1. PixelPlaygroundHome
  2. Metaverse Insights

Mayhem Studios Raises $20 Million in Funding Led by Sequoia Capital: What it Means for Indian P2E Game Development

• Metaverse Insights • 110 views

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

Mayhem Studios Raises $20 Million in Funding Led by Sequoia Capital: What it Means for Indian P2E Game Development

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

Mayhem Studios, a gaming studio owned by Mobile Premier League (MPL), has secured $20 million in financing with Sequoia Capital leading the investment, along with Steadview Capital, Truecaller and other investors. This comes after the launch of Good Game Exchange (GGX) in the NFT market last month and the launch of a Web3 gaming strategy based on playing while earning P2E as part of the group’s development plan.
So, what does this funding mean for the Indian P2E game development industry? In this article, we will explore the details of Mayhem Studios’ financing and its potential impact on the industry.

The Funding Details and Investors

Mayhem Studios raised $20 million in financing led by Sequoia Capital, a venture capital firm known for its investments in companies such as Airbnb, App Dynamics, and Dropbox. Steadview Capital, Truecaller, and other investors also participated in the funding. This newest round of funding brings Mayhem Studios’ total funding to over $25 million.

Mayhem Studios and Mobile Premier League

Mayhem Studios is a gaming studio owned by Mobile Premier League (MPL), an Indian P2E game development company. MPL has been a leading company in the Indian gaming industry since its founding in 2018 and has raised over $500 million in total funding.

Good Game Exchange (GGX) and Web3 Gaming Strategy

Mayhem Studios launched Good Game Exchange (GGX) in the NFT market last month, creating a platform for gamers to buy and sell in-game items and collectibles. This launch was part of MPL’s larger move towards NFTs and cryptocurrencies.
The studio also launched a Web3 gaming strategy based on playing while earning P2E (play-to-earn) as part of the group’s development plan. This new strategy aims to combine blockchain technology and gaming to create an ecosystem where players can earn tokens and cryptocurrencies while playing games.

Impact on Indian P2E Game Development Industry

Mayhem Studios’ recent funding round could have significant implications for the Indian P2E game development industry. By securing this funding, Mayhem Studios is now poised to expand its operations and develop new games that incorporate blockchain technology and cryptocurrency.
This new funding could also attract more investors to the Indian P2E game development industry, leading to greater innovation and competition. As the gaming industry continues to evolve and incorporate new technologies, P2E gaming is becoming increasingly popular, and Mayhem Studios is at the forefront of this movement.

Conclusion

Mayhem Studios’ $20 million funding round led by Sequoia Capital is a significant milestone for the Indian P2E game development industry. The launch of Good Game Exchange (GGX) in the NFT market and the Web3 gaming strategy based on playing while earning P2E as part of the group’s development plan are exciting moves that show a commitment to innovation and change.
As the gaming industry continues to evolve, the Indian P2E game development industry will grow and adapt to new technologies, and Mayhem Studios is poised to lead the way.

FAQs

1. What is Good Game Exchange (GGX)?
Good Game Exchange (GGX) is a platform created by Mayhem Studios that allows gamers to buy and sell in-game items and collectibles in the NFT market.
2. What is Web3 Gaming Strategy?
Web3 Gaming Strategy is a new strategy launched by Mayhem Studios that combines blockchain technology and gaming, allowing players to earn tokens and cryptocurrencies while playing games.
3. What does P2E mean?
P2E stands for play-to-earn, indicating that players can earn tokens and cryptocurrencies while playing games.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/15521/

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.

Like (0)
Previous 04/11/2023 03:23
Next 04/11/2023 03:25

Recommended articles