Proof of Play Closes Amid Failure to Prove Out Web3 Gaming Model

Proof of Play, a blockchain gaming company backed by Andreessen Horowitz (a16z), has announced its closure. The studio cited its inability to build a scalable and sustainable Web3 gaming business as the reason for shutting down.

Founded in 2022 with a seed round led by a16z and Greenoaks, Proof of Play aimed to use blockchain technology to give players lasting ownership and allow games to survive beyond their original developers. Its flagship game, Pirate Nation, was described as both a game and a testing ground for infrastructure intended to make blockchain gaming easier to build and use.

Despite receiving $33 million in funding, the company failed to prove out its Web3 model at scale. Proof of Play released parts of Pirate Nation's code, contracts, artwork, and agent tool through public GitHub repositories before shutting down.