Key facts
- Blockchain game developer Proof of Play is shutting down.
- The company cited an unsustainable business model for decentralized gaming.
- Proof of Play was backed by a16z.
- The studio will open-source its game assets and code.
- An independent foundation will continue to support the PIRATE token.
Proof of Play, a blockchain game developer, is shutting down its operations after encountering difficulties in establishing a sustainable business model for decentralized gaming. The company's decision comes after a period of attempting to navigate the complexities of the Web3 gaming space. As part of its closure, Proof of Play plans to make its game assets and code publicly available through open-source initiatives. This move is intended to allow the community and other developers to build upon the studio's work. Furthermore, an independent foundation has been established to ensure the continued support and development of the PIRATE token. This foundation will manage the token's ecosystem, aiming to maintain its utility and value within the decentralized gaming landscape.