Web3 game developer Proof of Play announces cessation of operations

According to Huoxing Finance, on August 5, Web3 game developer Proof of Play announced it would cease operations. The team stated that, at its inception, they believed blockchain gaming held the potential to drive the next generation of decentralized internet, but ultimately failed to build a scalable product or sustainable business model to validate this vision. Proof of Play will open-source as much code and art assets as possible, including the Pirate Nation Unity application and Pirate Nation smart contracts. The Founder Pirates NFTs, Pirate Nation artwork, intellectual property, and branding have also been released under the CC0 license. The Pirate Nation Foundation, which operates independently from Proof of Play, will continue supporting the PIRATE token, and its website will remain active. However, Proof of Play points will no longer be redeemable for any content. Additionally, Shiba Story Go! has been acquired by a third party and will operate independently going forward. Previously, in September 2023, blockchain gaming startup Proof of Play raised $33 million in seed funding, led jointly by a16z and Greenoaks.