This is a segment from The Drop newsletter. To read full editions, subscribe.
Another blockchain gaming studio is shutting down — Battlebound is closing its doors.
The studio was overseeing two games, including the metaverse game Evaverse with an EVA token and an in-development RPG dubbed Anterris. The Evaverse token is down over 99% from its all-time high.
Battlebound previously raised $4.8 million in seed funding back in 2022 from investors including a16z and Dapper Labs. It gained another $3 million by selling NFTs.
The company had the budget for what’s often called an “AA game” or the equivalent of two indie games, but it did not have the means for more ambitious projects (“AAA” games can have budgets of over $100 million each).
Evaverse screenshot
The closure comes “despite the recent traction we’ve been building for four years with a lean, scrappy team, extending our runway as far as possible while trying to secure our next funding round,” Battlebound wrote in a post.
“We excelled at doing more with less and staying afloat while developing above our weight. Ultimately, we’re in the same position as many studios before us, closing our doors due to remarkably challenging market dynamics,” the post continued.
Screenshot from Anterris game in development
On LinkedIn, Battlebound CEO and founder Adam Hensel said: “Thousands of players participated in our final playtest, and watching them enjoy years of hard work makes everything worth it.”
Hensel had previously worked at League of Legends publisher Riot Games for four years, most recently as a senior technical artist.
It really sucks to see yet another ambitious game studio unable to raise funds to continue a project. Other blockchain-powered or crypto-optional games like Dauntless and Eternal Dragons have also been cancelled in the past year. Blockchain game tracker BigBlockchainGameList found that 60 crypto games were discontinued in Q1 of 2024, but admits that tracking this can be “imprecise and [a] lagging indicator” for “general ecosystem trends.”
Midnight Society, the studio behind the ambitious (yet ultimately unreleased) NFT-optional shooter Deadrop, announced its shutdown in January after severing ties with its co-founder following public controversy and struggling to raise further funds.
Metaverse games aren’t really my thing, but Anterris looked like it was shaping up to be a cozy fantasy RPG.
Funding round sizes for Web3 gaming over time, from Game7
New blockchain game announcements decreased 36% last year compared to 2023, according to Game7, a research-from-crypto gaming group and research firm. That means things are slowing down, but that’s not necessarily a bad thing for crypto gaming.
Chart of Web3 gaming funding from Game7
I’m not that much of a online reader to be honest but your blogs really nice, keep it up! I’ll go ahead and bookmark your website to come back later. All the best
Great V I should definitely pronounce, impressed with your site. I had no trouble navigating through all the tabs and related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or anything, site theme . a tones way for your client to communicate. Excellent task..
This web site is really a walk-through for all of the info you wanted about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.
fascinate este conteúdo. Gostei bastante. Aproveitem e vejam este site. informações, novidades e muito mais. Não deixem de acessar para aprender mais. Obrigado a todos e até mais. 🙂
I’d forever want to be update on new posts on this site, saved to fav! .
Good write-up, I am normal visitor of one’s blog, maintain up the nice operate, and It is going to be a regular visitor for a lengthy time.
can i buy clomid without prescription cost cheap clomid without rx can you get cheap clomid online where buy cheap clomiphene cost cheap clomiphene without insurance clomiphene prescription uk clomiphene tablets price uk
This website positively has all of the low-down and facts I needed to this participant and didn’t positive who to ask.
This is a keynote which is in to my callousness… Myriad thanks! Unerringly where can I lay one’s hands on the connection details due to the fact that questions?
order azithromycin 500mg without prescription – buy ciplox 500 mg generic cheap flagyl
buy semaglutide online – cyproheptadine 4 mg pill buy periactin 4mg pill
domperidone uk – buy cyclobenzaprine without a prescription purchase cyclobenzaprine pills
buy inderal 10mg generic – oral inderal order methotrexate 5mg pills
buy generic amoxil for sale – cheap amoxicillin generic buy combivent 100mcg online cheap
zithromax 500mg oral – azithromycin for sale online nebivolol 5mg uk
buy augmentin 375mg pills – atbioinfo buy ampicillin online
nexium 40mg drug – https://anexamate.com/ nexium 40mg drug
buy warfarin 2mg – https://coumamide.com/ buy generic losartan online
Good V I should definitely pronounce, impressed with your site. I had no trouble navigating through all tabs and related information ended up being truly simple to do to access. I recently found what I hoped for before you know it in the least. Quite unusual. Is likely to appreciate it for those who add forums or something, site theme . a tones way for your customer to communicate. Excellent task..
buy meloxicam 15mg – https://moboxsin.com/ meloxicam 15mg brand
deltasone 5mg ca – corticosteroid buy prednisone 40mg without prescription
ed solutions – https://fastedtotake.com/ otc ed pills that work
generic amoxil – https://combamoxi.com/ where to buy amoxicillin without a prescription