GameFi Company Azra Games Raises $15M in Seed Funding Led by a16z

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Azra Games, a blockchain gaming startup, has raised $15 million in seed funding, according to an announcement Thursday.

Venture capital firm Andreessen Horowitz (a16z) led the round, with additional participation from NFX, Coinbase Ventures, Play Ventures and Franklin Templeton.

Azra Games will use the funds to create its first Project Arcanas game, a sci-fi fantasy epic with mass combat and role-playing game (RPG) elements. The game will feature Web3 technology as virtual collectibles.

The company was founded by Mark Otero, former chief executive of video game giant Electronic Arts (EA), and spearheaded the popular video game Star Wars: The Galaxy of Heroes.

“Mark Otero is a seasoned game director who was at the forefront of free-to-play mobile gaming with the hit Star Wars: Galaxy of Heroes franchise,” a16z general partner Jonathan Lai said in a statement. “We are thrilled to partner with Mark and the team at Azra as they apply their expertise to Web3 games by creating new types of gameplay and economic design.

A16z recently funded other on-chain game launches this month, such as LootRushin addition to launching $600 million venture capital funds for blockchain games on May 18.

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Laura J. Boyer