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Web3 Gaming Venture Proof of Play Shuts Down, Despite a16z Funding

2026/08/05 17:42 (Updated 2026/08/06 06:01)
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Written by Enzo
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Web3 Gaming Venture Proof of Play Shuts Down, Despite a16z Funding

Proof of Play Announces Closure

Web3 game developer Proof of Play announced the closure of its business on December 5th via the official X platform (formerly Twitter). The company stated, 'We believed in the potential of blockchain-based games to pioneer a new era of the decentralized internet. However, we were unable to develop a product that could substantiate this hypothesis on a large scale or sustain a viable business.' In its 2023 seed funding round, Proof of Play raised capital from a16z and Greeno...

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MAGAZINE

Iolite Vol.21

September 2026 issueReleased on 2026/07/30
Interview Richard Teng, Co-CEO, Binance Taisuke Isono, Head of Nikko Open Innovation Lab & DeFi Technology Department, SMBC Nikko Securities Inc. Hiroshi Kamiwaki, Director & Head of Crypto Asset Finance Business, Fintertech Co., Ltd. PHOTO & INTERVIEW Yusaku Nakano Feature Story: "Survival Strategies for Crypto Exchanges — The New Order Post-FIEA Transition" Interview Tomoyuki Isaka, President & Representative Director, CEO, Coincheck, Inc. Takaaki Fujiwara, Executive Vice President & Director, Mercury Inc. [Dialogue Series] The NISHI Talk: Crypto Conversations "Social Implementation Beyond Merely Holding Bitcoin" Kasou NISHI × Rintaro Kawai, President & Representative Director, ANAP HOLDINGS Co., Ltd. Series: Tech and Future Toshinao Sasaki ...and more