Proof of Play to shut down after blockchain gaming thesis falls short

The a16z-backed studio will open-source Pirate Nation assets, while an independent foundation continues supporting the PIRATE token.Blockchain game developer Proof of Play will cease operations after failing to build a sustainable business around its decentralized gaming thesis.The a16z-backed studio said Tuesday it could not develop a product that proved blockchain-based games could help usher in a decentralized internet at scale. It will open-source much of its code and artwork, including the Pirate Nation game, smart contracts and internal software-development tools.Proof of Play said the independent Pirate Nation Foundation will continue supporting the PIRATE token and keep its website operational. However, Proof of Play points will not be redeemable for anything.The studio also made the artwork and intellectual property associated with the Founder Pirates non-fungible tokens and Pirate Nation available under a CC0 license. Its Shiba Story Go! game was acquired by an unidentified third party and will continue operating independently.At their peak, Proof of Play’s Apex and Boss networks were the two largest gas consumers tracked across Ethereum’s rollup ecosystemRelated: Yield G...