Azra Games raises another $10M from A16z for Web3 games
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Azra Games has raised another $10 million from A16z to make games with non-fungible tokens (NFTs).
To date, the Sacramento, California-based company has raised $25 million in seed funding and it has said it is working on a game called Legions & Legends.
Andreessen Horowitz (a16z) led the investment from its $600 million fund for game investments. And other investors were NFX, Coinbase Ventures, Play Ventures, and Franklin Templeton.
“We believe that the unique ownership and economic models Web3 provides will revolutionize how people play online games,” Arianna Simpson, partner at A16z, said in a blog post.
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The funding shows that even in the downturn that high-quality game companies can still raise funds for blockchain games. Last year, blockchain games accounted for half of all fundings of game companies. But since the cryptocurrency downturn and the collapse of FTX, NFT games have have had a tougher road.
The company is run by Mark Otero, who previous led the development of Electronic Arts’ smash mobile game hit Star Wars: Galaxy of Heroes while he was at Capital Games. That game has generated more than $1 billion to date, based on EA data in 2021.
In an earlier interview with GamesBeat, Otero said Azra Games is on a mission to create deep, immersive game universes, with a specialized in-game economy and virtual collectibles, powered by Web3 technology such as NFTs.
Otero is working with fellow entrepreneurs Sonny Mayugba and
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