Azra Games, a Sacramento-based game development studio, has raised $42.7 million in a Series A funding round led by Pantera Capital, with contributions from a16z crypto, A16Z Games, and NFX.
This funding – one of the biggest funding rounds across both Web2 and Web3 gaming so far this year – aims to support and drive what Azra are describing as the “4th generation of mobile RPGs”.
This latest investment round brings Azra’s total fundraising to $68.3 million, making it one of the largest development studios actively working on video games that utilise blockchain technology.
What is Azra Games?
Founded in 2022 by EA veteran Mark Otero, Azra Games focuses on creating innovative mobile RPGs that use blockchain technology to offer players digital ownership of their in-game assets.
“I believe the 4th generation of mobile RPGs is competing with PC and console RPGs,” said Otero in a recent blog post. “We are excited to bring Western gamers true console/PC-quality PRG [sic] experiences on their mobile devices.”
The studio’s flagship project, Project Legends, is currently in development and embodies this forward-thinking approach to mobile gaming.
Expansion and Innovation
The recent influx of capital will support the growth of Azra Labs, the company’s AI-driven division focused on revolutionising the content creation process for RPGs.
Azra Labs aims to use AI technology to streamline and scale the production of immersive gaming experiences, both expanding the scope of their games, and hoping to deliver them to more aggressive timescales.
This funding will also facilitate the company’s global talent recruitment efforts, as it seeks creative and visionary professionals to join its team and work on their vision for the future of mobile gaming.
Mainstream Coverage for Azra Games
News of the investment – particular noting its size amidst a rough period for the games industry – has caught the attention of several mainstream outlets, and investors are optimistic about Azra’s potential to make a big impact on mobile gaming.
“Mark is building a truly special team at Azra to define a new standard for mobile roleplaying games, open-world economies, and player empowerment,” said Franklin Bi, General Partner at Pantera Capital. “I can’t wait for the world to see what’s coming and officially join the Azra universe.”
“The team at Azra Games has the incredible opportunity and vision to trailblaze the fourth 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.
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