Proof of Play to shut down after blockchain gaming thesis falls short
- Posted on August 5, 2026
- By Cointelegraph
- 1 Views
- 1 min read
In brief
Proof of Play, a blockchain gaming startup backed by prominent venture capital firm Andreessen Horowitz, announced its closure following disappointing market performance and unmet adoption targets. The company will open-source its Pirate Nation game assets and transition PIRATE token stewardship to an independent foundation, marking a significant setback for the play-to-earn gaming sector and raising questions about the viability of blockchain-based gaming models.
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Proof of Play to shut down after blockchain gaming thesis falls short
A16z-backed blockchain game developer Proof of Play will shut down, open-source Pirate Nation assets and leave support for the PIRATE token to an independent foundation.
