Mhaya
Mhaya is a Singapore-based GameFi company that operates a free-to-play, blockchain-based NFT city simulation game derived from Monopoly, monetizing via NFT sales, in-game token transactions, and NFT-based contests for global gamers and NFT enthusiasts.
- Company typePrivate
- Founded2020
- HeadquartersSingapore, Singapore
- Headcount101–250
- GTM typeB2C
- OfferingSoftware
What Mhaya does
Mhaya is a Singapore-based, privately held GameFi company founded in 2020 that operates a free-to-play, blockchain-based NFT city simulation game derived from Monopoly. The product is differentiated by what the company describes as "anti-monopoly mechanisms" intended to deliver fair gameplay and counter monopolistic advantage within the in-game economy. The core offering is a single NFT-driven gaming ecosystem, with the company using the Monopoly brand's familiarity as an on-ramp for players into blockchain-based digital asset ownership.
The company's underlying technology is a blockchain-based NFT gaming platform supporting digital asset issuance, NFT purchases, and in-game token transactions. Per disclosed materials, the platform's distinguishing technical layer is the anti-monopoly game-design architecture, rather than any novel on-chain infrastructure. No API, SDK, or integration ecosystem has been disclosed, and no mobile app store presence is documented despite the consumer gaming positioning.
Mhaya's business model is freemium at the consumer level, with monetization through NFT sales, in-game token transactions, and transaction-fee revenue from hosting large-scale NFT-based contests. Go-to-market is product-led growth via self-serve digital distribution targeting global gamers and NFT enthusiasts. The company has one disclosed funding event — a $5 million Pre-A round led by Firestone Global in May 2023 — earmarked for ecosystem development and contest hosting. Headcount is reported at 101–250 employees, though no management team, board, or operating geography details are publicly disclosed.
Mhaya firmographics
Firmographics- Name
- Mhaya
- Website
- https://mhaya.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Mhaya is a Singapore-based GameFi company that operates a free-to-play, blockchain-based NFT city simulation game derived from Monopoly, monetizing via NFT sales, in-game token transactions, and NFT-based contests for global gamers and NFT enthusiasts.
- Ownership category
- akta.pro rank
Mhaya industry classification
Industry- Product category
- Blockchain Gaming
- NAICS
- Doll, Toy, and Game Manufacturing (33993)
- akta.pro primary industry
- Blockchain Game Studios & Game Development (FSAPAGAC)
- akta.pro secondary industries
- Digital Game Marketplaces & Item Economies (NFT/Skins/Trading) (BPAMAKAJ), NFT Commerce, Ticketing & Utility Enablement (token-gated access, memberships, passes, ticketing rails) (FSAPAFAJ)
Keywords
Where Mhaya is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Markets served
Mhaya business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations
Revenue model
- NFT Sales and In-Game Transactions: Free-to-play model with revenue generated through NFT purchases and in-game token transactions
- NFT-based Contest Hosting: Hosting large-scale NFT-based contests as a revenue and engagement driver
Go-to-market motion1 record
Distribution channels1 record
Mhaya product offering
Product offeringCore offering
Mhaya develops and operates a free-to-play, blockchain-based NFT GameFi game derived from the Monopoly board game. The product features proprietary anti-monopoly mechanisms designed to ensure fair gameplay, allows players to hold true digital ownership of in-game assets as NFTs, and hosts large NFT-based contests within its ecosystem. Revenue is generated primarily through NFT sales and in-game token transactions.
Product overview
Mhaya is a single-product GameFi platform centered around a blockchain-based NFT game inspired by Monopoly. The game operates as a free-to-play model and incorporates anti-monopoly mechanisms to ensure fair gameplay. The primary offering is the Mhaya game ecosystem where players can participate in NFT-based contests.
Differentiator
Problem solved
Functional benefit
Products and services
- Mhaya
Companies that use Mhaya
Customer profileSegments1 record
Ideal customer profiles1 record
Mhaya technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Mhaya partnerships and signals
Strategic signalScale indicators1 record
Recent moves3 records
Expansion highlights3 records
Mhaya competitors and assessment
Company assessmentDirect peers
- Sky Mavis (Axie Infinity): Creator of Axie Infinity, the largest and most established play-to-earn / GameFi ecosystem. Directly comparable to Mhaya as a blockchain-native game with NFT-based economies and token-driven monetization.
- Gala Games: Web3 game publisher operating multiple blockchain games with NFT asset ownership and in-game token economies. Directly comparable as a multi-game Web3 studio competing for the same gamer and NFT-enthusiast audience.
- Decentraland: Web3 virtual world with NFT-based land, wearables, and in-game economy. Comparable as a blockchain gaming/metaverse platform targeting NFT-enthusiast users with token-based monetization.
- Pixels: Web3 farming/social game that grew rapidly on the Ronin chain. Comparable to Mhaya as a free-to-play blockchain game monetized through NFTs and in-game tokens, targeting a similar casual gamer audience.
- Wemade (WEMIX): Korean Web3 gaming platform and token economy operator with a portfolio of blockchain games. Comparable to Mhaya as a vertically integrated Web3 gaming ecosystem with NFT-based games and tokenized economies.
- Big Time Studios: AAA-style action RPG with NFT-based in-game items and a play-and-own economy. Comparable to Mhaya as a venture-backed Web3 game studio monetized through NFT sales and in-game asset trading.
- Illuvium: Open-world RPG built on blockchain with NFT creatures and in-game token economy. Directly comparable to Mhaya as a Web3 game studio selling NFT assets and tokenized gameplay.
- The Sandbox: Decentralized virtual world and game platform built around user-owned NFT land and assets. Comparable to Mhaya as a blockchain-based gaming/metaverse platform monetized through NFTs and in-game tokens.
Emerging players
- Immutable: Web3 gaming infrastructure provider (Immutable zkEVM, Immutable X) powering NFT-based games such as Gods Unchained and Illuvium. Comparable to Mhaya as a core enabler of NFT/blockchain game economies, though Mhaya is a game developer rather than infrastructure.
- Sorare: NFT-based fantasy sports platform with digital player card ownership and free-to-play mechanics. Comparable to Mhaya as a free-to-play platform monetized through NFT asset sales and trading, though focused on sports rather than city simulation.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat2 records
Key risks6 records
Key highlights5 records
Customer concentration
Mhaya social profiles
Digital presenceMhaya financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mhaya leadership team
Management profileNumber of profiles
Mhaya funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mhaya M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mhaya
What does Mhaya do?
Mhaya develops and operates a free-to-play, blockchain-based NFT GameFi game derived from the Monopoly board game. The product features proprietary anti-monopoly mechanisms designed to ensure fair gameplay, allows players to hold true digital ownership of in-game assets as NFTs, and hosts large NFT-based contests within its ecosystem. Revenue is generated primarily through NFT sales and in-game token transactions.
Is Mhaya a public or private company?
Mhaya is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mhaya founded?
Mhaya was founded in 2020. It employs 101 to 250 people.
Where is Mhaya based?
Mhaya is headquartered in Singapore, Singapore, in the Asia region.
How does Mhaya make money?
Two revenue lines are on record. NFT Sales and In-Game Transactions are the primary driver. The others are NFT-based Contest Hosting.
Who are Mhaya's main competitors?
Direct peers on record are Sky Mavis (Axie Infinity), Gala Games, Decentraland, Pixels, Wemade (WEMIX), Big Time Studios, Illuvium and The Sandbox. Emerging players are Immutable and Sorare.
Does Mhaya have an API?
No public API is recorded for Mhaya.
What industry is Mhaya in?
Mhaya's product category is Blockchain Gaming. Its primary akta.pro industry code is FSAPAGAC, Blockchain Game Studios & Game Development, with a secondary code of BPAMAKAJ, Digital Game Marketplaces & Item Economies (NFT/Skins/Trading). Its NAICS code is 33993.