Blockchain Game Studio Battlebound Ceases Operations Amid Market Challenges
Battlebound, a blockchain gaming studio, is shutting down. The studio was developing two games: the metaverse game Evaverse, with its EVA token down over 99% from its peak, and an RPG titled Anterris.
Key facts include:
- Battlebound raised $4.8 million in seed funding in 2022 from investors like a16z and Dapper Labs.
- The company generated an additional $3 million through NFT sales.
- Despite having a budget for two indie games, it lacked resources for larger projects.
- The closure follows four years of effort to secure further funding amidst challenging market conditions.
- 60 crypto games were discontinued in Q1 2024, indicating a broader trend in the industry.
CEO Adam Hensel noted the dedication of their team during the final playtest, where many players participated. Other studios, such as Midnight Society, have also faced closures recently.
Game7 reported a 36% decrease in new blockchain game announcements last year, with only 45% of crypto games currently playable, highlighting ongoing development challenges in the sector.