Solana Cat-Themed Hero Shooter Game Nyan Heroes Shutting Down Due to Funding Issues
Nyan Heroes, the cat-themed hero shooter game on Solana, is sadly coming to an end as developer 9 Lives Interactive announced the closure. The main reason cited for the shutdown is the inability to secure the necessary funding to complete the game.
The free-to-play hero shooter recently wrapped up its fourth play test on the Epic Games Store, which featured the largest play-to-earn airdrop of the NYAN token on Solana. A full game launch was scheduled for the upcoming winter season.
Since its first pre-alpha test in March 2024, Nyan Heroes garnered over one million players across its four play tests. Additionally, more than 250,000 players had wishlisted the game on platforms like the Epic Games Store and Steam.
Despite the game’s success and discussions around potential publishing deals, new investments, grants, and acquisitions, the required capital could not be secured to see Nyan Heroes through to completion. In a statement on X (formerly Twitter), the Nyan Heroes team expressed their disappointment at having to close the doors.
9 Lives CEO and Creative Director Max Fu shared some optimism for the future of Nyan Heroes in an email to Decrypt, mentioning ongoing discussions regarding the acquisition of the studio or the intellectual property. However, any immediate resolution seems unlikely.
News of the game’s closure had a negative impact on the NYAN token, which dropped nearly 40% in value on the day and now trades below a $1 million market cap. This decline represents a significant drop from its all-time high of $0.45 in May 2024.
Challenges Faced by Web3 Games
Nyan Heroes’ closure is part of a larger trend of Web3 games struggling to establish themselves in the market. In a similar vein, Ethereum game Mystery Society halted development earlier this year due to funding challenges. Additionally, Gala Games recently announced plans to discontinue support for The Walking Dead: Empires.
Investors and gamers alike are feeling the effects of these closures, with gaming tokens also experiencing a decline in value. Some gaming tokens have even dropped out of CoinGecko’s top 100 cryptocurrencies by market cap, highlighting the challenges faced by projects in the gaming space.
As the industry grapples with these setbacks, it’s clear that achieving product-market fit and sustainable funding are crucial for the success of gaming projects in the increasingly competitive landscape.
It’s a tough time for Nyan Heroes and other Web3 games, but the industry remains resilient as developers continue to innovate and adapt to the ever-changing market dynamics.
Edited by Andrew Hayward