DeflyBall
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
DeFly Ball was a blockchain gaming startup founded in 2021, led by CEO Murray Marderosian. It built the first-ever 'Flyball Dogs' metaverse racing game on the Binance Smart Chain: a virtual NFT-based play-to-earn game where players collected, trained and raced NFT dog characters across game modes including Bot Mode, Face-off and Tournaments. Its DEFLY token served as the in-game currency and governance token, with a total supply of 100 million. The company raised $1.6 million in seed and private rounds from investors including Oddiyana Ventures, DuckDAO, MH Ventures, Kommunitas and TruePNL, and ran its initial DEX offering in December 2021 at $0.10 per token.
02 / DeflyBall FAILURE REASONS
Failure reasons
DeFly Ball did not survive the collapse of the play-to-earn gaming market. Its Estonian entity, DeFly Ball OÜ, was deleted from the Estonian business register in September 2023, with pre-liquidation accounts showing zero revenue, and PitchBook marked the company as Out of Business in May 2023. No company-specific explanation of the failure was published; like most Web3 games of its era, it could not sustain its token economy and player base after the crypto market downturn.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
Inforegister (opened) reprints Official Announcement Teadaande number 2021972 dated 3 Jan 2023: DeFly Ball OÜ (registry code 16312434) in liquidation (likvideerimisel); creditors to file claims within four months under Commercial Code § 212.
- Liquidation
Inforegister (opened): status Deleted (05.09.2023).
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In 2021, Murray Marderosian founded DeFly Ball to build the first Flyball Dogs metaverse racing game on the Binance Smart Chain, with NFT dog characters and a play-to-earn DEFLY token.
- 02
On December 14, 2021, the company announced its seed and private sale rounds had closed with over $1.6 million raised, and launched its IDO at $0.10 per token.
- 03
The project website later went offline and the DEFLY token ceased trading; PitchBook marked DeFly Ball as Out of Business in May 2023.
- 04
In September 2023, DeFly Ball OÜ was deleted from the Estonian business register, with liquidation accounts showing zero revenue. No reliable loss figure was disclosed, so no loss amount is recorded.