a16z-Backed Proof of Play Closes Doors Amid Decentralized Gaming Thesis Fail

Proof of Play, an a16z-backed blockchain gaming studio, has announced that it will cease operations due to its inability to develop a sustainable business model around its decentralized gaming thesis. The studio stated that it failed to create a product that could help usher in a decentralized internet at scale.

The company will open-source much of its code and artwork, including the Pirate Nation game, smart contracts, and internal software-development tools. This move will allow other developers to build upon Proof of Play's work and potentially revive or rebrand the projects.

Proof of Play also made its artwork and intellectual property associated with the Founder Pirates non-fungible tokens (NFTs) and Pirate Nation available under a CC0 license, allowing anyone to use them freely. The studio's Shiba Story Go! game was acquired by an unidentified third party and will continue operating independently.

At their peak, Proof of Play's Apex and Boss networks were the two largest gas consumers tracked across Ethereum's rollup ecosystem.