In my config, I have baseURL = "http://michaelacheong.com/"
My fonts are stored in \static\fonts\. There are three but I am only trying to get Avara Black working.
I should note I started modifying the PaperMod theme files before learning that you should copy them over and override them so there could be an issue there.
From what I can gather, your theme is not loading your own .css located at /assets/css/extended/theme-vars.css because the path is not part of the theme itself.
This is why your override of /theme-vars.css is not working.
Secondly, the font files itself doesn’t have the _web suffix but in your theme-vars.css file it has.
Third, while after making the relevant changes mentioned above, your theme is still loading from /assets/css/fonts/Bold/. I’m not sure where it is coming from, I did not take a deeper look into it but you may want to find that one. This is optional but still …
Regardless, make the changed earlier and your font will load.
You can check the errors by loading the browser dev tool which is F12 in both Firefox, Chrome, and Edge browsers. In the “console” tab, you’ll see the 404 errors related to the font loading.
I advise you clone the theme afresh and start from scratch by copying the files you need to modify to the base ./layouts folder. Try changing fonts/ to /fonts/.