Sacramento-based video game developer Azra Games has secured $42 million in Series A funding with investments from Pantera Capital, Andreessen Horowitz, and NFX.
According to the company’s press release, the funds will be used to develop a mobile-first role-playing game that integrates blockchain technology and non-fungible tokens. This brings the company’s total funding to $68.3 million.
Azra CEO Mark Otero previously developed one of Electronic Arts’ most successful games, Star Wars: Galaxy of Heroes. Otero aims to create a new RPG that leverages blockchain technology.
Azura Games plans to use the funding to expand its team and advance development projects. Additionally, we aim to grow our research and development initiative, Azra Labs.
An organizational nod to blockchain gaming.
Pantera Capital, NFX, and a16z are major players in the blockchain and venture capital industry. Their involvement formally confirms investors’ strong confidence in the potential of blockchain gaming.
Their support for Azra Games suggests they see an opportunity for blockchain gaming to finally break through. These investors typically target projects with potential for mainstream adoption and long-term growth.
Combining gaming and blockchain has never been easy. Many developers have attempted to integrate these technologies, but most have failed. Despite the challenges, the potential remains, and investors like Pantera Capital and a16z continue to fund new projects in search of winning formulas.
Azura Games plans to develop the RPG first, with a focus on creating an engaging and sustainable experience for players, before adding blockchain-based features such as NFTs. According to Fortune, the game will allow players to own and trade digital assets.
