Azra Games, a gaming studio founded by veteran entrepreneur Mark Otero in 2022, has secured $42.7 million in new funding to accelerate the development of its upcoming mobile role-playing game (RPG), currently known as Project Legends. This funding round, led by Pantera Capital with participation from A16z and NFX, underscores investor confidence in Azra’s vision to redefine mobile RPGs. The company’s total funding to date now stands at $68.3 million, a notable achievement in a challenging investment environment for pre-revenue game companies.

Azra Games Cover Banner on X (Twitter)

Focusing on Gameplay First

Project Legends aims to deliver immersive storytelling, visceral combat, and engaging gameplay, marking what Otero describes as a “4th generation” of mobile RPGs. While the game will eventually integrate web3 technologies, Otero emphasizes that building a great game remains the primary focus.

“Our philosophy in 2022 was to build a great game first,” Otero explained in an interview with GamesBeat. “Once we achieve that, we can introduce web3 features to enhance the player experience. But first, we’ll start with a free-to-play model, and only later offer players the option to use a web3 wallet if they choose to engage with those features.”

The hybrid nature of Project Legends ensures it caters to both traditional gamers and those curious about blockchain-based economies. However, the company is careful not to impose web3 elements but instead use them to complement gameplay.

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Building the 4th Generation of Mobile RPGs

Mark Otero, best known for leading the creation of Star Wars: Galaxy of Heroes—a mobile game that generated over $1 billion in revenue for Electronic Arts—believes mobile RPGs are now entering a new era. Otero outlined the evolution of the genre across four distinct phases:

1. First Generation: Text-based RPGs with basic 2D graphics on early mobile platforms.
2. Second Generation: Enhanced UI and animations with auto-battle mechanics.
3. Third Generation: Use of advanced smartphone technology, offering 3D graphics and more interactive combat.
4. Fourth Generation: Mobile RPGs now competing with PC and console titles, featuring open-world environments, real-time battles, and extended player-versus-environment (PvE) campaigns.

According to Otero, the 4th generation will bring console-quality experiences to mobile platforms. "With our expert team and strong funding, we are excited to bring Western gamers true console/PC-quality RPG experiences on mobile,” he said.

Mark Otero CEO and Founder

Dark Fantasy Setting with Western Appeal

Project Legends is heavily inspired by 1970s sword-and-sorcery fantasy art, with visual influences from artists like Frank Frazetta and Boris Vallejo. Azra Games aims to create a distinct visual style that stands apart from the anime-inspired look dominating the RPG space.

“This game is a dark fantasy, mirroring the challenges of today’s world,” Otero noted. “The player has the opportunity to bring light to an otherwise dark world.” The game’s artistic direction is intended to resonate with Western audiences and evoke the essence of classic fantasy, drawing parallels to works like Conan the Barbarian and Heavy Metal Magazine. 

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Securing Funding Amid Challenging Market

The $42.7 million funding round led by Pantera Capital comes at a time when investment in pre-revenue gaming companies has become increasingly rare. Franklin Bi, General Partner at Pantera Capital, praised Azra Games for assembling a talented team capable of delivering groundbreaking gaming experiences.

The funds will not only fuel the development of Project Legends but also support the company’s expansion. Azra Games currently employs 83 people and plans to grow its workforce to over 120 by the game’s release, scheduled for Q3 2025. “Mark is the rare entrepreneur who has successfully navigated multiple industry shifts and built billion-dollar franchises. We are excited to see what the Azra team will accomplish with this new generation of RPGs." 

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Business Model and Platform Strategy

Azra Games’ business model focuses on maintaining control over its intellectual property (IP) and leveraging free-to-play mechanics. Otero explained that traditional venture capital funding allows the company to retain its independence. “We’ve managed to maintain control of our IP, which is key to building long-term value,” he said.

In addition to mobile development, the company plans to expand Project Legends to other platforms. “We’ll launch the game as free-to-play on mobile first, and then transition it to a game-as-a-service model, potentially releasing it on PC and consoles as well,” Otero said.

To ensure optimal gameplay, Otero envisions a rigorous playtesting process. The company will release early versions of the game for testing, gather player feedback, and iterate as needed before the final launch.

Azra Games Logo

Long-Term Success in a Competitive Space

Despite a challenging funding environment, Otero remains optimistic about the opportunities available. He noted that downturns, like the 2008–2009 recession, can offer advantages by making top talent more accessible. “This market allows us to attract and recruit talent that would otherwise be harder to reach,” Otero said. “We are using this opportunity to position ourselves for long-term success.”

The company has also launched Azra Labs, an internal initiative led by co-founder and CTO Travis Boudreaux, to explore new approaches to game development with small, agile teams. Arianna Simpson, General Partner at A16z crypto, highlighted the game’s innovative use of blockchain. “Azra Games is uniquely positioned to define a new standard for mobile RPGs by blending creative gameplay with digital ownership through web3 technologies,” she said.

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Final Thoughts

Azra Games plans to announce additional partnerships and details about its use of web3 technologies in early 2025. With strong backing from investors and a clear vision for the future of mobile RPGs, the company is poised to make a significant impact on the gaming industry. 

By blending high-quality gameplay with optional blockchain features, Azra Games aims to set a new standard for mobile RPGs. As the launch of Project Legends approaches, the gaming community is eager to see how this ambitious project unfolds.

Source: GamesBeat