O&A client Azra Games continues building upon its rocketing success in the Web3 space with the minting of “The Hopeful,” a 5,600-item NFT game-character collection.
Within 24 hours of the Sept. 28 mint on launchpad platform Magic Eden, The Hopeful NFTs reached $1.85 million in secondary market sales, and its floor price continues to climb.
Each NFT is a play forever pass, which will unlock benefits in the Azra Games universe, including the recently announced Legions and Legends.
The successful minting followed closely on a $15 million Series Seed round and the announcement of a partnership with Magic Eden for the minting of The Hopeful.
“Leveraging Azra investor Andreessen Horowitz’s thought leadership in Web3 licensing and O&A’s commercial licensing experience, we were able to quickly draft a NFT license which both protects our client’s interests, but also remains true to the spirit of web3’s openness,” O&A Partner Michael Borenstein said. “It is projects like this that help our team build the skills necessary to guide our client’s through the nascent legal landscape of Web3 licensing.”
Azra was formed using O&A’s StartupProgram.com (SUP) at the beginning of 2022 and has rapidly achieved a number of milestones, including the Series Seed round, which O&A helped negotiate. The round was led by Andreessen Horowitz and NFX Guild.
Sonny Mayugba, Azra COO and co-founder, added, “Minting and distributing digital assets in these formidable times of Web3 gaming is more complicated than it appears. Having O&A as our legal navigator has been a difference maker between doing a perishable campaign with small reach and building something durable and scalable with proper distribution.”
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O&A created the SUP service in 2017 with entrepreneurial startups like Azra Games in mind. Offering complete company formation services delivered through an efficient platform, coupled with an exclusive e-learning curriculum designed for founders, SUP gets startups up and running at a much lower cost than working with a big law firm – and without the risks of using do-it-yourself legal alternative websites. Visit SUP to learn more or book a demo of the service today.