Proof of Play, a blockchain gaming developer backed by a16z, has announced its shutdown. The studio stated that it was unable to establish a sustainable business model or deliver a viable product. The source code, graphics assets (including the game Pirate Nation), smart contracts, and internal development tools will be made open-source, while the images and rights to the NFT collection Founder Pirates will fall under a CC0 license. The independent Pirate Nation Foundation will assume responsibility for the PIRATE token, but points accumulated by players in Proof of Play will not be eligible for exchange.