Andreessen Horowitz is a venture capital firm specializing in investing in seed, start-ups, early, mid-stage, growth, and late-stage. It prefers to invest in the social media business and technology sector with a focus on software, back-end infrastructure, the infrastructure of the Internet, cloud computing, enterprise software and services, consumer, business Internet, mobile-Internet, consumer Internet, cloud computing, data storage, social network browsers data-storage, consumer electronics, networking functions, software related biology, biotech, and medicine companies at the intersection of computer science and life sciences with a focus on digital therapeutics, cloud technology in biology, and computational medicine.

Andreessen Horowitz

Franklin Resources is a global investment management organization known as Franklin Templeton Investments. They have an extensive global presence, including offices in 35 countries and clients in more than 150. Their common stock is listed on the New York Stock Exchange under the ticker symbol BEN and is included in the Standard & Poor’s 500:registered: Index. Franklin Resources Inc. NYSE: BEN is an investment firm originally founded in New York in 1947 as Franklin Distributors, Inc. It is listed on the NYSE under the ticker BEN as in Benjamin Franklin, whom founder Rupert Johnson, Sr. admired. In 1973 the headquarters moved from New York to San Mateo, California. The firm specializes in conservatively managed mutual funds. It offers products under the Franklin, Templeton, Mutual Series and Fiduciary brand names. Like other large investment companies, the firm offers a wide variety of funds but is traditionally best known for bond funds under the Franklin brand, international funds under the Templeton brand, and value funds under the Mutual Series brand.

Franklin Templeton

NFX operates as a pre-seed & seed stage investor that is transforming how true innovators are funded for entrepreneurs. They believe that creating something of true significance starts with seeing things others do not. As Founders, they reinvented industries with this mindset. As investors, their approach is no different. They do this by asking ourselves one question - ideally, how should the startup experience work for Founders, both NFX and the whole ecosystem. NFX lens is always through the eyes of the Founder. The firm approach is to first build an early-stage experience for all Founders that is powered by more software. Second, to bring the founders they back exponential yet little-known techniques for network effects and growth. Third, to make visible the typically seen methods of technology's most impactful companies. Having built 10 companies with more than $10 billion in exits across multiple industries and geographies, they're entrepreneurs first because they're entrepreneurs first. And they are determined to guard the backs of the next generation of fearless founders.

Coinbase Ventures is an investment arm of Coinbase that aims to invest in seed-stage cryptocurrency and blockchain startups. The company was founded in 2018 and is based in San Francisco, California, United States.

Coinbase Ventures

Play Ventures is a venture funding that invests globally in games and game services startups.

Play Ventures

WAGMI Ventures invest in web3 companies through a collective network .

WAGMI Ventures

Pantera Capital is an investment firm focused exclusively on Bitcoin, other digital currencies, and companies in the space. The company believes that Bitcoin has the potential to transform the way people use money and that it will do for payments what the Internet has done for communications and commerce. Until 2014, Pantera focused on global macro hedge fund investments. The firm was founded in 2003 by Dan Morehead, who was a chief financial officer and head of Macro Trading at Tiger Management. The firm has since shifted its investment advisory services to focus exclusively on Bitcoin, other digital currencies, and companies in the space. Shareholders include Benchmark, Fortress Investment Group, and Ribbit Capital.

Pantera Capital

A16z crypto is a $300M venture fund that will invest in crypto companies and protocols. The company's fund is designed to include features of traditional venture capital, updated to the modern crypto world.

a16z crypto

Azra Games

Azra Games is a blockchain-based developer of collectible combat role-playing games for core gamers.  The company specializes in blockchain technology and makes collectible combat RPGs for core gamers on the blockchain that features various characters, enabling gamers to make a complete shift in how to create, play, collect, trade, and socialize. Azra Games was established in 2022 in Sacramento, California by Sonny Mayugba.

Azra Games is a developer of sci-fi and fantasy role-playing games (RPG), which incorporates Web3 technologies such as digital collectibles and in-game economic systems. Its flagship game is called Legions and Legends, which was in the development phase as of March 2023 and would be available for the PC and mobile platforms. The company had not disclosed when the game would be launched; however, it released the Hopeful NFT Collection in September 2022, giving buyers pre-launch access to concept art and the beta version of the game.

A decentralized version of the web powered by the blockchain

Web3 Ecosystem

Azra Games expands office space in Old Sacramento

Azra Games is a developer of sci-fi and fantasy role-playing games (RPG), which incorporates Web3 technologies such as digital collectibles and in-game economic systems. Its flagship game is called Legions and Legends, which was in the development phase as of March 2023 and would be available for the PC and mobile platforms. The company had not disclosed when the game would be launched; however, it released the Hopeful NFT Collection in September 2022, giving buyers pre-launch access to concept art and the beta version of the game.Funding and financialsIn February 2023, it raised <a href="https://sp-edge.com/updates/16528">USD 10 million in an extended seed funding round </a>led by Andreessen Horowitz. It aimed to use the funds to develop its first game, Legions and Legends.

NEAR Protocol is an open-source layer-1 blockchain launched in October 2020. The blockchain uses a proof-of-stake consensus mechanism to validate transactions. Its native token is NEAR, which can be used to pay for transactions and storage on the blockchain, while also allowing token holders to participate in the platform’s governance process. In August 2024, NEAR launched a significant upgrade called "<a href="https://sp-edge.com/updates/32890">Nightshade 2.0</a>" to enhance scalability and usability. This update is a major step in integrating sharding into NEAR's core architecture, which divides the blockchain into smaller segments, allowing the network to process more transactions at a lower cost. Validators no longer need to store shard states locally; instead, they retrieve "state witnesses" from the network to validate changes. This improves shard performance and boosts the network’s ability to support more shards.NEAR allows users to sign up for a wallet (account) using unique human-readable names (e.g., johndoe.near, in comparison to cryptographic and randomly generated private keys, which is a characteristic of chains such as Ethereum), which in turn enables easy sign-ins for dApps for users and improves the overall usability of the blockchain. The platform also allows developers to prepay gas fees for first-time users, allowing the latter to interact with a dApp for free. NEAR also offers the Rainbow Bridge, which allows users to transfer ERC-20 and NEAR tokens or any other digital asset between the Ethereum and NEAR blockchain. In addition, the platform provides tools such as SDKs, CLIs, and APIs for developers to create dApps on its blockchain. In addition, NEAR allocates 30% of the transaction fees to developers to encourage them to build applications on its platform, with the remainder being burnt.The protocol also incorporates <a href="https://sp-edge.com/updates/32771">Chain Signatures</a>, a technology that allows smart contracts to sign transactions across multiple blockchains without relying on cross-chain bridges. This aims to simplify multichain dApp development by reducing the need for multiple wallets and manual bridging, as well as enhancing user experience and increasing asset liquidity and utility across blockchains.As of July 2022, NEAR had 100 validators on its blockchain, which it expected to increase in proportion to the number of transactions. The platform uses an auction system to select and determine the seat price for its validators every epoch (time interval of 12 hours). The platform claims to be able to scale infinitely by adding more validators owing to its underlying architecture.Key customers and partnershipsIn June 2021, NEAR joined ICON’s Blockchain Transmission Protocol (BTP), which seeks to improve cross-chain communication. The partnership allowed data to be transferred between the NEAR blockchain and other BTP partners such as Polkadot and Harmon. Moreover, NEAR partnered with <a href="https://sp-edge.com/updates/23393">Nym Technologies </a>to integrate end-to-end encryption and privacy safeguards into the NEAR blockchain ecosystem.In addition, NEAR partnered with Ardana, a stablecoin and decentralized exchange (DEX) liquidity pool built on the Cardano blockchain in November 2021, to build a bridge to support integrations and token transfers between the NEAR and Cardano blockchains. It had also planned to enable cross-chain smart contract functionality and allow the NEAR token to be used as collateral on Ardana to mint stablecoins in the future.

NEAR

Ava Labs develops the open-source layer-1 blockchain, Avalanche. The Avalanche network architecture contains three separate blockchains in order to address the decentralization, security, and scalability limitations of blockchains. These include 1) the Exchange Chain (X-Chain), which is the default blockchain on which assets are created and exchanged and also includes Avalanche’s native token–AVAX; 2) the Contract Chain (C-Chain)—which is based on the Ethereum Virtual Machine (EVM)—allows for the creation and execution of smart contracts with cross-chain interoperability; and 3) the Platform Chain (P-Chain), which coordinates validators and enables the creation and management of subnets (a sovereign network that defines its own rules for membership and tokenomic). Avalanche uses a proof-of-stake consensus mechanism and is able to execute 4,500 transactions per second. As of December 2022, ~1,000 projects were built on Avalanche, including DeFi projects like Tether, SushiSwap, Chainlink, and Circle. As of the same date, the network processed on average two million daily transactions and was secured by more than 1,200 validators.Ava Labs launched Core, a dedicated non-custodial crypto wallet for AVAX as a browser extension, through which users are able to browse dApps on the Avalanche blockchain. In April 2023, the company announced plans to launch “ <a href="https://sp-edge.com/updates/17583">Evergreen Subnets </a>,” a suite of blockchain deployments, tooling, and customization services specifically designed for financial institutions to run their own private, permissioned chains with approved parties. In addition, financial institutions will be able to communicate and transfer data with other subnets through Avalanche’s native communication protocol Avalanche Warp Messaging (AWM) without relying on any third parties. It also launched <a href="https://sp-edge.com/updates/18842">AvaCloud </a>in May 2023, a no-code Web3 launchpad that assists businesses in building fully managed blockchain ecosystems. AvaCloud consists of four main components: an automated blockchain builder, managed validators, comprehensive data tools, and chain interoperability within Avalanche subnets.Key customers and partnershipAvalanche has partnered with several cloud services providers to improve its network such as <a href="https://sp-edge.com/updates/15079">Alibaba Cloud </a>(December 2022) to improve its infrastructure and support for its validators. Users of the Avalanche blockchain can launch new validator nodes using Alibaba Cloud’s plug-and-play infrastructure-as-a-service (IaaS), while dApp developers can use the latter’s storage and computing resources for the efficient running of their dApps. It also collaborated with <a href="https://sp-edge.com/updates/15640?industryIds=144">AWS </a>(January 2022) to scale and improve blockchain adoption and support its dApp ecosystem, while also enabling one-click node deployments through the AWS marketplace.

Ava Labs

Based in Australia, Immutable is a developer of blockchain-based video games and a provider of a Web3 game development platform. The company develops and publishes its games through Immutable Game Studio, and released its first game, Gods Unchained, in March 2021. The game is a NFT strategy card game, and had ~80,000 active players as of January 2022. It also claimed that over USD 25 million of Gods Unchained digital assets have been traded as of the same date. In February 2024, the company launched the mobile version of Gods Unchained, available on Google Play and Apple App Store. Immutable launched its second game, <a href="https://sp-edge.com/updates/29491">Guild of Guardians </a>, in May 2024 to over 1 million pre-registered users. It is a mobile role-playing game set in a fantasy world on the brink of destruction, where players must form teams to battle against evil Dreads.Its Web3 game development platform, Immutable X, provides a SDK that offers APIs and smart contracts to allow developers to leverage ready-made Web3 infrastructure to quickly build and deploy blockchain-based games. These include an onboarding solution (non-custodial wallet) called <a href="https://sp-edge.com/updates/16041">Passport </a>, transaction infrastructure, and NFT minting tools. The platform also consists of a developer hub which allows developers to launch and manage their projects in one-place and obtain related performance analytics.In addition, Immutable X also acts as a layer-2 scaling solution on the Ethereum blockchain. It uses <a href="https://sp-edge.com/companies/607497">StarkWare's </a>StarkEx roll-up technology and can process 9,000 transactions per second, with zero gas fees, while claiming to be carbon-neutral. Its native token IMX can be used to pay for transactions as well as stake and govern the network. Notable companies building on Immutable X include GameStop, TikTok, OpenSea, Ember Sword, Illuvium, GreenPark Sports, and Vee Friends (Gary Vee).Key customers and partnershipsImmutable partnered with Mineloader to develop Guild of Guardians, and it has also collaborated with several game developers, including Turner Sports and Kongregate, to build Web3 games on the Immutable X platform. Furthermore, Immutable partnered with <a href="https://sp-edge.com/updates/22566">Amazon Web Services (AWS)</a> to develop infrastructure solutions to assist companies in developing and scaling blockchain-based games, and <a href="https://sp-edge.com/updates/24637">Amazon Prime Gaming</a> to list in-game content for Gods Unchained in the latter’s platform. This partnership also aimed to introduce the game to a broader audience circle through Amazon's platform, which boasts over 200 million Prime Gaming members. It also collaborated with <a href="https://sp-edge.com/updates/25892">Axelar</a> to integrate games built on Immutable's zkEVM into the Axelar network to enhance user onboarding across blockchain.The company collaborated with <a href="https://sp-edge.com/companies/786111">Polygon</a> to launch its <a href="https://sp-edge.com/updates/24881">zero-knowledge Ethereum Virtual Machine</a> (zkEVM) scaling solution to bypass the scaling limitations of the Ethereum blockchain and promote Web3 gaming. This network allows developers to completely abstract transaction fees, allowing a frictionless player onboarding and improved user experience.

Immutable

Mythical Games is a video game studio building games based on blockchain technology, playable NFTs, and play-to-earn game economies. The company developed two games—NFL Rivals and Blankos Block Party. The latter was discontinued in December 2023 after its launch in June 2022.In May 2022, NFL and the NFL Players Association partnered with Mythical Games to develop an NFT-based video game NFL Rivals. The game was launched in 2023, with players taking part in arcade-style gameplay, assuming the role of NLF general manager. They can collect and trade players represented as NFTs on the secondary market via the iOS and Android apps, as well as Mythical’s web-based marketplace. In addition, a unique feature of the game is the “squad system,” which enables players to team up with fellow players to compete with others.Mythical Games also enables other game developers and publishers to build or integrate blockchain-based play-to-earn economies into their games through The Mythical Platform. The platform also includes built-in regulatory KYC/AML compliance and indemnity as well as a verified wallet for transacting both real and cryptocurrencies. Further, the company also offers a marketplace that enables users to sell and trade their digital assets.The Mythical Platform is built on an EVM-compatible sidechain Mythical Chain, which uses a proof-of-authority consensus mechanism to validate transactions. The chain also offers interoperability features, allowing players to transfer and trade NFTs across multiple blockchains. It also claims the minting of NFTs and integrating the marketplace over its platform does not require mining.It acquired <a href="https://sp-edge.com/updates/15966">DMarket </a>–a digital gaming asset marketplace–in January 2023, and utilized its technology to launch an improved version of its own marketplace (Mythical Marketplace 2.0), with features such as a blended payment gateway and AML and fraud protection systems.Key customers and partnershipsAs of June 2023, the company reported to have achieved daily gross sales exceeding USD 1 million and gained more than 2.5 million new users over the past year. Moreover, it expects to reach over 20 million player accounts across its entire game portfolio by the end of 2023, primarily propelled by NFL Rivals and the upcoming release of Nitro Nation World Tour.The Mythical Platform’s first developer partners were announced by the company in November 2021, which includes 1) CCG Games to create Epic Spell Wars: Magic Fight, a trading card game; 2) Creative Mobile to create Nitro Nation – World Tour, a racing game; and 3) Abstraction Games to create a new action strategy title. These were slated to be released in 2023.Funding and financialsIn November 2021, Mythical Games raised USD 150 million in a Series C round led by Andreessen Horowitz at a valuation of ~USD 1.3 billion. Additionally, it raised <a href="https://sp-edge.com/updates/19719">USD 37 million in a Series C1 </a>funding round led by Scytale Digital in June 2023, at a similar valuation. This funding round is expected to close later in 2023 and reach USD 57 million-67 million. It had planned to utilize the fresh funds toward initiatives that will drive profitability within the next year and expand its games and infrastructure to reach a larger audience.

Mythical Games

Storj Labs developed the Storj Decentralized Cloud Storage (DCS) network that works by compressing, encrypting, and splitting files into more than 80 smaller pieces to distribute and store them across a global network of individual storage nodes, which are excess hardware space rented out by individuals in return for a fee. Storj audits its network through random file verification every hour, which ensures its files are consistently being hosted by its nodes; it automatically reconstitutes the data when it is required by the user. The company claims to have more than 10,000 active nodes with over 6 petabytes of available storage capacity spread across the world, as of August 2022. It uses its native token STORJ, which is used by customers to pay for providers of decentralized storage.Key customers and partnershipsStorj partnered with <a href="https://sp-edge.com/companies/792614">Matter Lab’s </a>zkSync Era ( <a href="https://sp-edge.com/updates/18986">in May 2023 </a>) to integrate the latter's zero-knowledge roll-up technology into its cloud storage platform to optimize transaction speed, reduce gas fees, and improve the overall efficiency of the payment process. Additionally, the partnership enables EVM-compatible composability for decentralized storage payments, providing customers with increased flexibility and a wider range of customization possibilities. As part of the development, Storj also had plans to develop and maintain two open-source libraries, Crypto-Batch-Payment and Storjscan, which will focus on creating a seamless onboarding experience for its customers on the zkSync Era network.

Storj

Developers of video games that use elements of blockchain technology, allowing gamers to earn cryptocurrency by playing games. They can either convert it into real money or purchase in-game assets.

A decentralized alternative to traditional social networks that operate on independently run servers on the blockchain. These are community-owned and reward user participation.

An alternative storage system in which data is encrypted, segmented, and stored on multiple nodes across the blockchain rather than a single server.

Developers of dApps for use in industries such as travel, health, and fitness, which are yet to reach wider adoption.

Providers of wallets that allow users to purchase and store the cryptocurrencies/tokens required to interact with web3 apps, along with app browsers for users to browse and access dApps.

Also known as layer-1 networks, these include developers of the base blockchain network.

Also known as layer-2 solutions, this includes providers of scaling solutions, such as sidechains, state channels, and rollups, which improve the speed and throughput of transactions occurring in layer-1 blockchain networks.

Platforms that provide tools such as SDKs, blockchain node infrastructure, and bridges for developers to create, host, debug, and add extra functionality to dApps on one or many blockchains.

Includes companies that form the Web3 ecosystem

Web3 is based on blockchain tech, a key enabler of the industry

GenAI tools help develop smart contracts and query the blockchain for data

Providers of node-as-a-service and SDKs to build dApps operate under this model

<div>
 
 Web3-based game developer Azra Games has raised USD 42.7 million in a Series A funding round. The round was led by Pantera Capital, and saw participation from a16z crypto, A16Z GAMES, and NFX. This investment takes Azra's total funding to USD 68.3 million till date.
 This funding will be used to bolster the studio's growth strategy, speed up various development projects, including their flagship game termed Project Legends, expand the company's global workforce, and further build on Azra Labs. Azra Labs is a research and development unit in the company that focuses on the application of AI in game development.
 
</div>

Azra Games

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