As part of our Sacramento Inno coverage of the startup, technology and innovation economy, the Business Journal has compiled a list of startups to watch in the new year. These startups are poised to make big moves, either in growth, funding, technology or development. We're highlighting 15 startups, generally with fewer than 100 employees, about 5 years old or less and that have raised less than $50 million.
Founded in January 2022 by veteran entrepreneurs, Azra Games in May raised $15 million in an investment round led by Andreessen Horowitz, one of the largest venture capital firms in the world.
Azra is developing immersive, multiplayer role-playing games linked with blockchain technology where the players own assets and can earn them. They can also pay for upgrades.
Players can trade or sell their assets, which are non-fungible tokens, or NFTs. Those are unique digital assets such as artwork, whose ownership can be tracked with blockchain technology. NFTs can be traded and held as investments.
Azra minted its first NFT player characters in September, with new issuances expected as Azra rolls out slices of the game, which will be released in its entirety in 2024. Early adopters get tokens that are “Play Forever Passes,” entitling the holder to free access to future games.
Azra was founded by CEO Mark Otero, who developed the best-selling game Star Wars: Galaxy of Heroes for Electronic Arts Inc. and Chief Operating Officer Sonny Mayugba, who founded and sold several companies.
