Galaxy

Star Wars

Sacramento, California-based gaming studio Azra Games has landed another round of funding to develop mobile role-playing games (RPGs).
According to an Oct. 15 announcement, the company raised $42.7 million in a Series A round led by Pantera Capital, with participation from a16z Crypto, a16z Games and NFX. Across pre-seed, seed and the latest funding, the company has raised $68.3 million to date.&nbsp;
Behind the company is game designer Mark Otero, a former co-founder of mobile game developer KlickNation, the creator of RPG titles such as Superhero City and Age of Champions.&nbsp;
KlickNation was purchased by Electronic Arts in 2011 for $35 million. At the new studio, Otero developed Star Wars Galaxy of Heroes, which <a data-ct-non-breakable="null" href="https://www.statista.com/statistics/1208392/top-global-electronic-arts-app-revenue-google-play/" rel="nofollow noopener" target="_blank" text="null" title="https://www.statista.com/statistics/1208392/top-global-electronic-arts-app-revenue-google-play/">generated</a> over $32.5 million in revenue as of May 2024, according to data from Statista.&nbsp;
“I thought I was a retired game designer,” Otero <a data-ct-non-breakable="null" href="https://medium.com/@azragames/my-name-is-mark-otero-and-i-thought-i-was-a-retired-game-designer-6b53be8cccc2" rel="nofollow noopener" target="_blank" text="null" title="https://medium.com/@azragames/my-name-is-mark-otero-and-i-thought-i-was-a-retired-game-designer-6b53be8cccc2">wrote</a> in a blog post about his career, adding that Web3 drew him back to gaming development to work on blockchain-based RPG titles.&nbsp;
<figure>
 <img alt="Venture Capital, Startups, Games, Companies" src="https://s3.cointelegraph.com/uploads/2024-10/01929167-8742-72e8-87ed-acffa67ab71d" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/AzraGames/status/1846207939776073744" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/AzraGames/status/1846207939776073744">Azra Games</a>
 </figcaption>
</figure>
 Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mysten-labs-suiplay0x1-web3-gaming" rel="" target="_self" text="null" title="https://cointelegraph.com/news/mysten-labs-suiplay0x1-web3-gaming">Gaming serves as a sandbox to explore tech avenues — Mysten Labs exec</a>
Azra is building a free-to-play RPG game for mobile, promising to deliver the fourth generation of RPGs for Western audiences.&nbsp;
The funds will support gaming development and a research team at Azra Labs. 
Led by Travis Boudreaux, the startup co-founder and chief technology officer, Azra Labs is exploring artificial intelligence applications to speed up the development of AAA mobile content.&nbsp;
Gaming development can be a lengthy process, and the last crypto winter <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/web3-gaming-investors-more-discerning-animoca-robby-yung" rel="" target="_self" text="null" title="https://cointelegraph.com/news/web3-gaming-investors-more-discerning-animoca-robby-yung">put a strain on many studios</a> seeking revenue streams from blockchain-based business models, such as play-to-earn. Yet the gaming sector appears to be attracting venture capitalists again.&nbsp;
VC firm a16z, for instance, recently <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/andreessen-horowitz-a16z-crypto-vc-invest-30-million-gaming-startups" rel="" target="_self" text="null" title="https://cointelegraph.com/news/andreessen-horowitz-a16z-crypto-vc-invest-30-million-gaming-startups">announced $30 million in capital</a> for gaming startups, including AI, VR/AR and Web3 games. 
According to Cognitive Market Research, the global RPG market alone was valued at $18.73 billion in 2021 and is projected to reach $38.46 billion by 2029. Magazine:&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/blockchain-games-decentralized-lattice-starknet-cartridge/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/blockchain-games-decentralized-lattice-starknet-cartridge/">Blockchain games aren’t really decentralized… but that’s about to change</a>

Azra Games secures $42.7M funding for mobile RPG game

Cointelegraph

Other articles published on Oct 15, 2024

XRP on the Edge of a Breakout as JetBolt Presale Booms – What’s Next?

From Skepticism to Success, Michael Saylor Made MicroStrategy Bitcoin’s Top Holder

Why Denaria?

UnitedHealth Group (UNH) Beats Q3 Expectations with $7.15 EPS

Sui Leads 2024 Crypto Market with 170% Gain as Suirum Raises Over 15,000 SUI in Presale

Crypto Strategist Predicts Significant Price Surge for SUI

Join our free newsletter for daily crypto updates!