Continuing to build momentum after a $15 million Series Seed and the hit minting of “The Hopeful” game-character NFTs, O&A client Azra Games has closed a new, $10 million round of financing led by Andreesen Horowitz.
The Series Seed Plus round, which closed Dec. 12, comes less than a year after Azra was formed using O&A’s StartupProgram.com (SUP), a complete, affordable, and efficient service for launching startups with a legal foundation designed with venture capital in mind from Day One.
As outside counsel, O&A, P.C. advised Azra through the closing of the Series Seed Plus round, including drafting and negotiating the deal documents. O&A Managing Partner Dan Offner and Associate Attorney Andrew Yang led the work for O&A, with support from Associate Attorneys Vivian Le, Sharthak Mukhopadhyay, and Liana Minassian, as well as paralegals Simone Ritchie, Mayra Ramsey, and Aaron Kunitomo. Offner also serves as an advisor to Azra.
“It was our privilege to work for Azra on its Series Seed Plus and support Azra’s growing momentum into becoming a leading game development and publishing company that uses Web3,” Offner said.
“We are immensely grateful to O&A Venture and Corporate Law Firm, and in particular to Dan Offner and the outside counsel team, for their invaluable expertise and support in securing our $10,000,000 Series Seed Plus financing,” said Azra Games Chief Business Officer and co-founder Sonny Mayugba. “Their commitment to Azra’s success and their deep understanding of the complex legal landscape of venture financing has been truly remarkable.”
Azra Games, whose first title is Legions & Legends, brings immersive role-playing games based on blockchain to the mainstream, with special in-game economies and collectibles using technologies such as non-fungible tokens (NFTs).
In September, “The Hopeful,” a 5,600-item NFT game-character collection, reached $1.85 million in secondary market sales within 24 hours of minting. Each NFT is a play forever pass, which will unlock benefits in the Azra Games universe, including in Legions and Legends.
News of the most recent financing was picked up by both Fortune as well as GamesBeat.
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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.