House Velaryon is still canonically alive and existing in the A Song of Ice and Fire / House of the Dragon world, but its power rose and fell hard over time. In the lore, the house was once one of the most important Valyrian families in Westeros, then lost a lot of its wealth and influence after the Targaryen civil war known as the Dance of the Dragons.

What happened

  • They were major players early on. House Velaryon of Driftmark was a powerful seafaring noble house closely tied to House Targaryen.
  • Their decline came after the Dance. Public summaries of the house say that after the Targaryen civil war and the weakening of Targaryen power, House Velaryon lost much of its prominence and fortune.
  • They did not disappear. Later discussion and reference pages still describe House Velaryon as an existing noble house, not extinct.

In plain English

If you’re asking “did House Velaryon get wiped out?”, the answer is no. If you’re asking “why don’t they seem as powerful anymore?”, it’s because the house was badly weakened by the aftermath of the Targaryen civil war and never fully returned to its former height.

Quick context

House Velaryon’s story is basically a rise-and-fall arc: they were once elite allies of the Targaryens, then faded politically after that dynasty’s internal collapse, while still remaining part of the setting.

If you want, I can also give you:

  • a spoiler-free House of the Dragon explanation , or
  • a full lore timeline of House Velaryon.