Azra Games Secures $42.7M Series A to Build Console Quality Games for Mobile Devices - NFT News and Insights from the Industry

Quick take:

• The fundraising brings Azra Games’ total funding to $68.3 million.
• Azra Games plans to use the capital to accelerate the growth of its games and other projects that are currently in development.
• The company will also use some of the capital to grow Azra Labs, a research unit dedicated to exploring the application of AI in the development of AAA mobile games.

Azra Games, the Web3 gaming startup founded by veteran 0-to-1 game designer Mark Otero has raised $42.7 million in a Series A round led by Pantera Capital’s Franklin Bi led the round with participation from NFX’s Gigi Levy-Weiss, Arianna Simpson from A16z Crypto and A16z Games’ Jonathan Lai.

The company plans to use the Series A round to expand its team, accelerate the growth of its gaming titles and advance other projects that are currently in development.

Azra Games wants to build PC and Console quality mobile-based Web3 roleplaying games (RPGs), with its flagship game, code-named “Project Legends” already open for the waitlist.

Commenting on his company’s goals and the evolution of RPGs Otero said in a statement: “We aim to define what I call the 4th generation of mobile RPGs. The first generation emerged with mobile app stores, characterized by text-based RPGs with 2D graphics constrained by limited memory and weak processors. The second generation saw enhancements in UI, richer icons, and auto battles with basic animations. The third capitalized on advanced smartphone technology, offering 3D graphics, interactive turn-based battles, and more sophisticated controls.”

Otero believes that the 4th generation of mobile RPGs should be able to compete with PC and Console RPGs, “featuring open worlds, over-the-shoulder camera perspectives, real-time battles, and extended PvE campaigns.”

The latest round brings the total raised by Azra Games to $68.3 million, with part of the capital also set to be directed towards the expansion of Azra Labs, the company’s research and development studio dedicated to exploring the application of artificial intelligence in the development of AAA mobile games.

Source : NFT Gators - Oct 16, 2024