Azra Games raises over $42m to develop blockchain-integrated game

Azra Games, a video game developer based in Sacramento, has secured $42 million in Series A funding, bringing its total funding to $68.3 million. The investment comes from prominent backers such as Pantera Capital, Andreessen Horowitz (a16z), and NFX, signaling strong investor confidence in the potential of blockchain gaming.

The company, led by CEO Mark Otero—who is known for his work on Star Wars: Galaxy of Heroes—plans to use the funding to develop a mobile-first role-playing game (RPG) that incorporates blockchain technology and non-fungible tokens (NFTs). While blockchain gaming has faced challenges in the past, Azra’s focus is on creating a compelling, sustainable gameplay experience first, with blockchain-based features like NFTs introduced later to enhance the player experience.

In addition to game development, Azra intends to expand its team and further build out Azra Labs, a research and development initiative. This expansion reflects the company’s commitment to both the current gaming landscape and the emerging world of blockchain technology.

With high-profile investors backing the project, the partnership marks an institutional endorsement of the potential for blockchain gaming to reach mainstream success. However, Azra Games is aware of the challenges in integrating blockchain and NFTs into gaming, acknowledging that while many developers have struggled, the opportunity remains for a winning formula to emerge.

The move aligns with growing interest in blockchain-based gaming, where players can own and trade digital assets. Investors like Pantera Capital and Andreessen Horowitz are backing these projects in hopes of finding the breakthrough that could bring blockchain gaming into the mainstream.