Azra Games Prepares To Enter The NFT Gaming Space After Raising $15 Million

Blockchain gaming startup Azra Games has announced the completion of a $15 million funding round, which was led by Andreessen Horowitz. According to the announcement, the additional capital will be used to fiancé the company’s flagship plat-and-earn RPG called “Project Arcana.” Other participants in the funding round include Franklin Templeton, Play Ventures, and Coinbase Ventures.

Azra Sets To Enter The NFT Gaming Space

The gaming platform noted that “Project Arcanas” will have plenty of NFTs, which are specific blockchains to signify ownership. The NFTs for Arcanas will be serving as deeds of ownership to certain in-game terms or characters.

The game’s first NFTs will be the Arcanas’ Genesis Collection, with characters locked up o staked for some time to gain interest. They will also come in handy in the game’s lore. These are known as NFT “Play Forever Passes” (PFPs).

While NFTs have been booming in the entertainment and sports sector, their relevance in the gaming space has been controversial.

More Firms Push Into The NFT Gaming Space Despite Challenges

Several NFT projects have been canceled in the past due to several criticisms from gamers, with many of them having strong resentment for crypto-related assets. Many of them are also concerned about the environmental consequences of the wider adoption of cryptocurrencies because of their high energy usage during mining.

However, studios like Square Enix and Ubisoft are not perturbed about the resentment or negativity and are still pushing for NFT-based games. One of the main benefits highlighted is the belief that NFTs will allow gamers to own and trade their in-game assets.

Although Azra’s team seems to be gearing up to enter the blockchain gaming space, it still has not picked a chain it will be working on.

“We have not settled on a blockchain yet,” the firm stated after announcing its seed funding for projects ahead.

But it appears the company is planning to go the Web3 route. A recent job posting by Azra Games revealed that the company is looking for a Web3 engineer with experience in Solidity, Ethereum’s programming language. Azra has also added several Electronic Arts alumni and video game industry veterans to its team. Michael Noriega, Azra’s game director, comes from EA while its Chief Executive Officer, Mark Otero, was the general manager at EA subsidiary Capital Games.