Claiming it has failed to raise sufficient funding, Immutable-based MMORPG Ember Sword is the next web3 game to shut down with immediate effect.
Danish developer Bright Star raised around $7.8 million of publicly-announced funding for the game from the likes of Bitkraft, Delphi, Mechanism, Dialectic and Play Ventures, mainly in 2021 and 2022.
Bright Star also raised over $11 million through its initial NFT land sale. Some people are confusing the $204 million allocated to the main land sale as funding, but as we pointed out at the time, this was money allocated into a raffle, not funding the company received.
Ember Sword was originally running on Polygon, but announced its move to Immutable in 2021.
It launched the EMBER token in July 2024. It’s down 99% from the price first tracked on CoinGecko, with a circulating market cap of a mere $85,312.
As for the reasons behind canning the game, the official Discord announcement said, “despite strong early support and a passionate player base, we couldn’t secure the funding needed to keep building.”
“The current web3 and gaming market made it impossible.” This has resulted in the game servers being closed down immediately.