The Mobile Premier League (MPL) is releasing a new web3 gaming venture, GGX, as the gaming unicorn taps into the play-to-earn (P2E) gaming sector. MPL is in advanced talks to raise $10–$15 million through a simple agreement for future tokens from investors including Spartan Capital and Polygon, valuing the startup at about $200–250 million.

GGX is supposed to be an in-game NFT marketplace that will offer a platform for buying and exchanging game assets, similar to trade. The platform will permit any game developer to monetize games utilizing the GGX software toolkit.

The goal of GGX is to have various games and game developers on its platforms. Players who get assets from any game on the GGX platform can unreservedly exchange them with other users on GGX. In P2E gaming, players are compensated with digital currency, which they can trade for real money.

MPL offers around 70 games across categories, for example, daily fantasy sports, quizzing, board games, e-sports, and casual games on Android and iOS applications. It is said that MPL’s introduction to web3 gaming is an important step in making a gaming group that spans skill-based real-money gaming, play-to-earn, and an as of late launched gaming studio, Mayhem Studios.

Credit: Varindia