Proof of Play Shuts Down After Failing to Prove Blockchain Games' Potential

Proof of Play, a Web3 game studio backed by venture capital firm Andreessen Horowitz (a16z), is ceasing operations. The company announced on August 5 that it had failed to build a product and sustainable business that could prove the potential of blockchain-based games in ushering in a new decentralized internet. Despite securing $33 million in funding from a16z and Greenoaks in a seed investment round in September 2023, Proof of Play struggled to develop a viable product. The company has now made its Unity client for Pirate Nation, a full-chain pirate-themed RPG, as well as its smart contract and AI coding agent tools, available for developers and AI agents to use. It has also released the art assets and intellectual property for Pirate Nation under CC0, allowing for free use. Proof of Play's founder announced on Twitter that the company's mobile RPG Shiba Story Go had been sold to a third party, which will continue to operate it independently. The buyer and purchase price were not disclosed.