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Funding Woes Force Ethereum's Ember Sword Game to Close Its Doors

May 24

2 min read

Only a few months after launching its early access, the Ethereum-based MMORPG Ember Sword has announced its shutdown due to a lack of funding. The developers expressed their disappointment in a statement, revealing that they explored all possible avenues to secure financial support but ultimately could not find a sustainable path forward.

Key Takeaways

  • Ember Sword has officially shut down due to funding issues.

  • The game had recently launched its early access but failed to secure further investment.

  • This closure adds to the growing list of web3 games that have ceased operations in 2023.

  • The native token, EMBER, has seen a significant decline in value since its peak.

Background of Ember Sword

Ember Sword was launched in December 2022, transitioning to the layer-2 network Mantle after previously being part of the Polygon ecosystem. The game generated considerable excitement in the gaming community, especially after raising $203 million through NFT land sales, attracting around 35,000 players. The development team included notable figures from the gaming industry, such as Rob Pardo, former chief creative officer at Blizzard Entertainment, and Dennis “Thresh” Fong, a retired esports player.

Reasons for Shutdown

In their announcement, the Ember Sword team stated:

We explored every possible way forward. But in today’s market — where even some of the most promising projects are shutting down — we couldn’t find a path to keep building.

This sentiment reflects the broader challenges facing the web3 gaming sector, where many projects are struggling to maintain operations amid a tough financial landscape.

Market Impact

Following the announcement, the price of Ember Sword’s native token, EMBER, dropped by 3% within 24 hours, currently trading at approximately $0.00047. This represents a staggering decline of over 99% from its all-time high of $0.068. The market cap of EMBER now stands at around $80,657, highlighting the drastic shift in investor sentiment.

The Future of Web3 Gaming

Ember Sword is not alone in its struggles; it joins a growing list of web3 games that have shut down in 2023, including Deadrop, Nyan Heroes, and Tatsumeeko. The challenges faced by these projects raise questions about the sustainability of blockchain-based gaming and the future of investments in this space.

Conclusion

The closure of Ember Sword serves as a cautionary tale for investors and developers in the web3 gaming industry. As the market continues to evolve, the need for sustainable funding models and robust community support becomes increasingly critical. The developers expressed their gratitude to the community, stating:

"This isn’t the ending any of us wanted. But we wanted to sincerely thank you for being here, for believing in this vision, and for helping make Ember Sword something we’ll never forget."

Sources

  • Ethereum-based game Ember Sword shuts down due to lack of funding, Crypto News.

May 24

2 min read

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