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

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

Proof of Play will open source code and art resources 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. Additionally, Shiba Story Go! has been acquired by a third party and will operate independently in the future.