NewsNovo
The blockchain gaming thesis has claimed another studio.
Proof of Play, the a16z-backed developer behind Pirate Nation, is closing down after its core premise failed to hold up, with the company committing to open-source the game's assets.
An independent foundation will step in to support the PIRATE token. What broke down Proof of Play built its business around a single bet: that blockchain rails could make game economies more durable and player-owned.
The studio attracted backing from a16z, one of the most prominent venture firms active in crypto. The shutdown points to a failing thesis rather than any single execution mistake.
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