The studio confirmed the shutdown on August 4, citing an inability to validate its Web3 gaming thesis at scale. While the company is closing its doors, it has opted to release the client, smart contracts, and artwork for Pirate Nation via public GitHub repositories. These assets, now operating under MIT or CC0 licenses, allow for unrestricted public reuse, though the studio emphasized that the backend infrastructure remains unavailable, leaving developers to provide their own support to host functional versions.
In section Cryptocurrency
Proof of Play Shuts Down After Failing to Scale Web3 Gaming
Proof of Play, the blockchain gaming studio backed by a16z, announced it will cease operations after failing to build a sustainable commercial model. The closure marks a significant setback for the studio, which raised $33 million in 2023 to pioneer onchain gaming through its flagship title, Pirate Nation.
Financial fallout from the announcement hit the project's ecosystem immediately, with the PIRATE token dropping nearly 14% to trade at $0.00112. The independent Pirate Nation Foundation intends to continue supporting the token, though the studio clarified that internal reward points hold no value and cannot be redeemed for compensation. Meanwhile, the mobile game Shiba Story Go has been sold to an undisclosed third party, allowing it to continue operating independently of the shuttered studio.
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