Through the help of Andreessen Horowitz and NFX, blockchain-based video game developer Azra Games was able to secure $42 million in a Series A fundraising round headed by Pantera Capital. The money will help Azra in her endeavours to combine blockchain technology and NFTs with the gaming sector, an area that has encountered many obstacles and setbacks. 75.5% of Web3 games released between 2019 and 2023, according to a CoinGecko analysis, failed to acquire traction. Despite this, investors are still looking for novel methods to integrate blockchain technology with gaming.
Pantera Capital Bets in the Vision of Azra Games
Azra Games, a Sacramento-based company founded in 2022, is run by CEO and seasoned game designer Mark Otero, who is well-known for his work on the popular game Star Wars: Galaxy of Heroes. Electronic Arts purchased KlickNation, Otero’s former business, in 2011. His latest endeavour, Azra Games, has successfully raised a total of $68.3 million and seeks to revolutionise the role-playing game (RPG) industry by developing an immersive, sustainable gaming environment that would eventually integrate blockchain technology.
Prioritising Creating Outstanding Games Over Blockchain
Otero highlights that before incorporating blockchain and NFT technology, Azra Games is dedicated to creating a remarkable role-playing game. “We have always believed that the first step in creating a great game, or role-playing game, that people love and want to share with their friends and family is to build a great game,” Otero stated. “After you’ve proven that, you can use Web3 and other advanced technologies to enhance the player experience.”
Future RPGs on Mobile: Project Legends
Azra Games also hopes to reinvent role-playing games for mobile platforms, which Otero thinks can now handle processing power that was previously exclusive to PCs and gaming consoles. The company’s next game, code-named Project Legends, will be accessible through the App Store and have graphic richness comparable to that of expensive PC and console titles. Otero intends to build this flagship game and add more talent to the squad with the $42 million.
Increasing Talent and Intellectual Property
With the additional funds, Otero also plans to expand Azra Games’ intellectual property (IP) department, which will be responsible for quickly generating new concepts and bolstering the company’s creative assets. The team’s international growth will enhance Azra Games’ standing in the developing blockchain gaming industry. “The team at Azra Games has the incredible opportunity and vision to trailblaze the 4th generation of mobile RPG games that combines the creativity of new gaming formats and experiences with the digital ownership of blockchain,” said Arianna Simpson, General Partner at a16z crypto, highlighting the potential of Azra Games.
