Proof of Play, which had previously raised $33 million in a funding round led by a16z, has announced that it is ceasing operations.

BlockBeats News, August 5th, Web3 game developer Proof of Play announced that it will cease operations. The team stated that although they initially believed in the potential of blockchain games to drive the next generation of the decentralized internet, they ultimately failed to create a product that could scaleably validate this concept and sustain a viable business.

Proof of Play will open source code and art assets as much as possible, including the Pirate Nation Unity app, Pirate Nation smart contracts, and more. Founder Pirates NFTs, Pirate Nation artwork, intellectual property, and branding have also been made available under a CC0 license.

The Pirate Nation Foundation, separate from Proof of Play, will continue to support the PIRATE token, and the foundation's website will remain operational. However, Proof of Play points will no longer be redeemable for any content. Furthermore, Shiba Story Go! has been acquired by a third party and will operate independently in the future.

Previously reported in September 2023, blockchain gaming startup Proof of Play completed a $33 million seed funding round, led by a16z and Greenoaks.