Giftgaming founder and CEO Nick Hatter has announced that he is closing down the marketing consultant start-up.
The company touts non-intrusive and gamer-friendly advertising by delivering in-game currency and items sponsored by brands.
Despite making a success of the company over the last four years, Hatter has stated that it's time to close down and move on, citing his own mental health difficulties as part of the reason.
"I know that Giftgaming's investors and supporters are disappointed," wrote Hatter in a blogpost. "And it was a very tough call for me. However, I'd be doing a disservice to them by carrying on when I lack the passion and enthusiasm that is required for a successful trade sale."
Hatter has stated that investors will be able to recoup funds through through SEIS relief and that he will forgo most of the liquidation proceeds to maximise their returns.
"The upside to all of this: I've learnt what true mental resilience is, having survived mental breakdown, failure, depression, PTSD and addiction," added Hatter. "No qualification can fully prepare you for these adverse life experiences."