Azra Games raises over $42m to develop blockchain-integrated game

Azra Games, a Sacramento-based video game developer, has secured $42 million in Series A financing with investment from Pantera Capital, Andreessen Horowitz and NFX.

According to the company’s press release, the funds will be used to develop a mobile-focused role-playing game that combines blockchain technology and non-fungible tokens. This will bring the company’s total funding to $68.3 million.

Azra’s CEO, Mark Otero, previously developed Star Wars: Galaxy of Heroes, one of Electronic Arts’ most successful games. Otero aims to create a new RPG using blockchain technology.

Azra Games plans to use the funding to expand its team and advance development projects. It also aims to grow Azra Labs, a research and development initiative.

A corporate salute to blockchain gaming

Pantera Capital, NFX and a16z are key players in the blockchain and venture capital industries. Their participation is a formal nod to investors’ strong confidence in blockchain gaming potential.

Their support for Azra Games shows that they see an opportunity for blockchain games to finally succeed. These investors generally target projects with mainstream acceptance and long-term growth potential.

Combining gaming with blockchain was not easy. Many developers have tried to integrate these technologies, but the majority have failed. Despite the challenges, the potential remains, and investors like Pantera Capital and a16z continue to fund new projects in search of a winning formula.

Azra Games plans to develop its RPG first, focusing 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.