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Azra Games nets $15 million build RPGs around web3, NFT tech

The blockchain studio's debut title will be a fantasy collectibles and mass combat RPG codenamed Project Arcanas.

Azra Games has raised $15 million in seed funding to create "best-in-class" collectible and combat RPGs that leverage blockchain technology.

The blockchain games company said its debut title, a fantasy collectibles and mass combat RPG codenamed Project Arcanas, will deliver "web3 real value" to players.

Azra explained its wider portfolio will leverage specialized in-game economies and virtual collectables, including tradable NFTs the studio claims will "provide perpetual utility" in all of its titles. 

It's a bold pitch given the reception to other game-focused NFT projects from major players like Ubisoft and Team17 has been decidedly frosty, with many consumers and developers struggling to see how the speculative technology adds meaningful value to play experiences.

Still, Azra founder and CEO Mark Otero -- formerly general manager of EA Capital Games and BioWare -- said the company believes it can leverage web3 technology to "re-engage adults" by tapping into a "collectibles fantasy."

"At Azra, we are making a game to recreate this joy, to re-engage adults’ imaginations once again with the ultimate collectibles fantasy, combined with the ultimate fast-paced mix-and-match combat that is accessible yet deeply strategic," said Otero.

"Imagine role playing giant monsters, robots and creatures, and leading your favorite heroes and villains to battle - and on top of satisfying game sessions, a vibrant marketplace and a sustainable economy based on real value that only web3 can unlock to deliver the most compelling and complete play experience.”

Venture capital firm Andreessen Horowitz, which debuted a new $600 million fund earlier this week, led the investment round with additional backing from NFX, Coinbase Ventures, Play Ventures and Franklin Templeton.

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