Azra Games raised $15 million in Series A seed funding led by Andreessen Horowitz. The guys from California will help finance the first game Azra Games called Project Arcanas. Other participants in the seed funding were NFXMore, Coinbase Ventures, Play ventures и franklin templeton, GAbbie Dizon (Yield Guild Games), Justin Kahn (Fractal), Roham Garegozlow (Dapper Labs). Azra Games will continue to expand their team, focusing on the game product, development and brand building, Mayugba said. By the way, Sonny Mayugba is the chief operating officer Azra Games, his colleague Travis Boudreau is the chief technology officer, and Mark Otero, a veteran game designer who worked at Electronic Arts, is the CEO Azra Games.
Letters usually tell us about the type of securities in exchange for investments, but in general they can be described as follows:
Pre-seed: The project is at the idea stage, market research is being carried out, niche analysis is being carried out, funds are raised from acquaintances or business angels. Idea money. Usually around $100k
Seed round (sowing): Usually there is some kind of prototype that can be tested, perhaps there is already some kind of traction, there is an opportunity to evaluate competitors and the potential of your own product, a business plan is being developed. Funds go to the selection of the core-team. Pitches, presentations, tokenomics are being prepared. The project is in the active phase of searching for investors.
Series A: There is a confirmed hypothesis, there is an increase in sales, a positive feedback is coming from the community, its number is growing, competitors are becoming more active and it is necessary to capture the market faster. The project needs marketing. Investments at this stage are less risky.
Series B: Sales and user base are growing even faster. The project needs to scale. An increase in staff, possibly a new office, improved support service, and so on, which should affect the quality of service.
Series C: The company has grown and can expand into international markets. in 95% of cases the last round after which the company does not need financing.
Series D, E, F, G: These rounds are quite rare. But they can be and serve rather to prepare for an IPO.
In an exclusive interview with GamesBeat, Mark Otero had this to say:
Project Arcanas is a collectible action RPG set in a new fantasy universe.
В Azra Games announced that users will be able to collect NFT profile photos called Play Forever Passes (PFP), which will essentially act as game passes as the team builds the Project Arcanas universe. The company will release the first gamified PFPs called Genesis Explorers, most likely within the next few months.
Azra Games plans to release teaser footage of the game by the end of next year. Within the brand, there are plans for additional games that Azra Games sees it as playable pieces of the whole ecosystem pie, not as mini-games.
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