Play to earn attracts crowds! Shortly after his declaration on the creation of a gaming fundthe investment fund Andressen Horowitz better known asa16z conducted an investment campaign of $15 million for the blockchain game company Azra Games. The purpose of this raised capital is to finance the development of their game named Project Arcadias.
Azra Games embraces web 3
Azra Games is rewarded with an investment of up to $15 million partly made by a16z but also by NfX, Coinbase Ventures, Play Ventures and Franklin Templeton. Azra Games and his CEO Mark Otero (formerly an employee of Electronic Arts and behind the hit mobile game Star Wars: Galaxy of Heroes) propose a typical game Fighting RPG in a universe of science fiction with collectibles in the form of NFT.
“We’re on a mission to create games that bring back the joy of childhood play. Imagine leading terrifying monsters, giant robots and valiant heroes into battle against thick and thin in a game with deeply satisfying risks and rewards. Imagine a vibrant marketplace and sustainable economy based on real value that only Web3 can unlock to deliver the most compelling and comprehensive gaming experience. This is what we build. »
Mark Otero, CEO of Azra Games
According to Mark Otero’s promises, Project Arcadias will want to be a true universe. Each NFT may have a real usefulness. The company’s desire is to offer a unique and complete experience to its users. The studio also expressed its dislike for “mini-game” projects. He assures that each production from them will be of impeccable quality. For the time being, none concrete information has not been disclosed as to their first NFT collection and their first play to earnbut the company claims to be eager to reveal more shortly (unfortunately abstract concept in this environment).
A love for gaming, P2E and cryptocurrencies
It will soon 13 years that the a16z investment fund was born. There are 9 years, he was doing his first investment in the cryptocurrency sector. At the time, in 2013it was an investment in today’s giant Coinbase which marked their passage in the “ rabbit hole »
Nor is it by chance that the gaming sector benefits from their intervention. Indeed, the fund had already made some one of its own characteristics. In fact, he has in his portfolio a good number of actors from the video gamesespecially in the blockchain. In 2021 a16z had raised $150 million for Sky Mavisthe game publisher play to earn Axie Infinity. The fund is invested in a multitude of other structures crypto gaming as The Sandbox, RTFKT, Yield Guild and many others. More recently, just before the statement regarding Project Arcadiathe investment company announced to the public the opening of its gaming fund calculated at $600 million. Azra Games then appears to be the first to benefit from this investment plan in Andressen Horowitz’s gaming.
Despite the sad moods of the market to which P2E projects did not escape (or even suffered in a particularly violent way), the field of gaming in web 3 still attracts capital. The fundraising led by a16z is symptomatic of a field in search of novelties but also of development. Moreover, the $15 million surveyed for a studio that does not have for the moment nothing concrete happened stem from an almost blind trust in the team. We notice it, the “web3 compatibility” greatly helps companies and start-ups in their search for investors.
To perform in play to earn, you must accumulate cryptocurrencies! To do this, Register without delay on the FTX reference crypto exchange platform. Thus, you benefit from a lifetime reduction on your trading fees (affiliate link, see conditions on official website).