Ethereum-based game Ember Sword shuts down due to lack of funding

Only a few months after it launched its early access, the team behind the blockchain-based game Ember Sword announced that the project is shutting down to due to lack of funding.

On the game’s official website, the developer team behind the Ethereum (ETH)-based massively multiplayer online role-playing game or MMORPG posted a statement to players and supporters of the game that it is shutting down the project after it was “unable to secure the funding” needed to develop the game further.

“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,” wrote the team in a statement.

Ember Sword is the latest in a series of web3 games that have shut down operations this year, joining the ranks of Deadrop, Nyan Heroes, Tatsumeeko and many more.

Last December, the game had just launched its public early access after moving to the layer-2 network Mantle. It had previously jumped ship from the Polygon (POL) ecosystem to Immutable X. However, it will no longer continue with an official launch following its latest announcement.

“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,” the team stated.

At press time, the game’s native token EMBER has seen minimal price action, plummeting by 3% in the past 24 hours. Its current price stands at $0.00047. The token has plummeted more than 99% from its initial peak of $0.068. EMBER’s market cap sits at $80,657 market cap.

The developer team consisted of prominent gaming veterans as advisors, including Rob Pardo, former chief creative officer at Blizzard Entertainment and lead designer of major gaming franchise World of Warcraft, as well as retired esports player Dennis “Thresh” Fong.