Proof of Play Winds Down Operations Amid Token Collapse

Proof of Play, the studio behind the blockchain-based game Pirate Nation, is reportedly ceasing operations. The claim comes from crypto gaming account @yellowpanther, but the studio itself has not confirmed the news.

The company's headcount was down to just two people as of May 31, 2026, and its flagship game Pirate Nation shut down in September 2025 after a 30-day wind-down period. The game's token, PIRATE, is now trading at around $0.001277, with a market cap below $1 million.

The studio was founded in New York in 2022 by co-founders Amitt Mahajan, Craig Woida, and Mark Skaggs, who raised $33 million in a seed round led by Andreessen Horowitz and Greenoaks in September 2023. The Arcade, a smaller modular game platform launched by Proof of Play in July 2025, remains online.