World Rugby has scrapped plans for the proposed Nations Championship after failing to get the support of the unions that would be involved.
Rugby's governing body had offered huge sums of money to the individual unions as it tried to convince them to sign up for the competition, and last month increased the total amount offered to more than $9.7 billion over 12 years.
However, after "every effort to provide solutions and reassurances" to the doubtful nations, the organisation has discontinued plans to push on with the tournament.
"World Rugby undertook this important project with the best interests of the global game at heart in line with our vision to grow the sport as a game for all," World Rugby chairman Bill Beaumont said.
"While we are naturally disappointed that a unanimous position on the Nations Championship could not be achieved among our unions, we remain fully committed to exploring alternative ways to enhance the meaning, value and opportunity of international rugby for the betterment of all unions.