In Series A funding, NFX, Andreessen Horowitz, and Pantera Capital invested $42 million in Sacramento-based Azra Games.
According to a press statement from the firm, the money will be utilized to create a role-playing game optimized for mobile devices and incorporates non-fungible tokens and blockchain technology.
With this, the company would have received $68.3 million in capital in total. One of Electronic Arts’ best-selling games, Star Wars: Galaxy of Heroes, was previously created by Azra’s CEO, Mark Otero.
Otero wants to use blockchain technology to develop a brand-new role-playing game. With the money, Azra Games intends to grow its staff and move forward with its development initiatives. It also seeks to expand Azra Labs, which is an effort for research and development.
An institutional nod to blockchain gaming
Pantera Capital, NFX, and a16z are major names in the venture capital and blockchain space. Their participation formally acknowledges the high level of investor confidence in blockchain gaming’s potential.
Their endorsement of Azra Games implies that they believe there is a chance for blockchain gaming to succeed.
Typically, these investors focus on initiatives that have the potential to gain traction and see sustained expansion.
Gaming and blockchain integration have been challenging. While many developers have tried, most of them have yet to integrate these technologies successfully.
Despite the difficulties, the potential is still there, and investors like Pantera Capital and a16z are funding fresh initiatives to find a formula that works.
Before introducing blockchain-based elements like NFTs, Azra Games intends to develop its RPG first, concentrating on making it an engaging and long-lasting experience for gamers.
According to Fortune, users would then be able to possess and exchange digital assets within the game.
