A16z Crypto leads $10 million seed round for Azra Games
Azra Games has announced raising $10 million in the recent seed round, bringing the total seed fund to $25 million. The recent funding round was led by A16z Crypto, welcoming participants like Coinbase Ventures, NFX, and Franklin Templeton.
Funds raised from the round will be directed by Azra Games to the construction of its NFT game, which is based on the NFT collection, Legions and Legends. Mark Otero, the Chief Executive Officer and Founder of Azra Games has expressed optimism about the game while interacting with the media. He has cited the relatively nascent stage in comparison to traditional gaming.
Players who are still in the traditional gaming environment are a bit hesitant about transitioning to Web3 games; however, developers have moved on to adapt to the upcoming technology.
Web3 games are normally based on NFT collections, but Azra Games is looking to pursue it with a different approach. The game will have in-game characters, but the NFT collection will not be the foundation for it. The game would be offered on mobile devices and PCs.
Developers, including Jam City and Ubisoft, have shifted to Web3 gaming with a universal approach. The one adopted by Azra Games could have better results, but that remains to be seen in the times to come.
The beta version will be released first, with players who own the Hopeful NFT Collection receiving a free pass to test the features. Concept art and other benefits will be made available during the beta phase.
Mark Otero is looking at the new launch as an opportunity to create something out of a new business model for the platform. This is in addition to the belief that the platform will be able to bring a million users into the Web3 sphere with content that has enough potential.
Arianna Simpson from A16z Crypto has acknowledged the amazing team that Mark Otero has assembled to execute the project in a world-class manner, saying that they have been working on the game to build an exciting experience for players in an RPG segment. The team does have experience in the segment since it has previously collaborated on Star Wars: Galaxy of Heroes.
However, Arianna Simpson has also stated her belief by saying that what really revolutionizes the experience of players is the concept of offering unique ownership and economic models in Web3. NFT games do involve non-fungible tokens like characters and wearables, allowing players to collect and trade them at any time. With Azra Games seeking a different approach, it only means that the segment has a lot to explore, provided it works positively for the Azra team.
The goal of Azra Games is to bring over a million users to Web3 space through the launch. Traditional gamers are hesitant at the moment, something that could change if developers and hosts pursue them productively.