- IO Interative has regained the rights to its online fantasy RPG, Fantasy Project
- Xbox withdrew funding from the project, ending its partnership with the 007 First Light studio
- IOI will continue to work independently on the project, but one studio will be closed and some workers will be laid off
Last week, 007 First Light And Hitman developer Io Interactive has confirmed that it has ended its relationship with an external backer for Fantasy Projectwhich was later revealed to be Xbox (via Bloomberg).
Following Xbox’s withdrawal from the deal and amid a major restructuring at Microsoft that resulted in thousands of layoffs, IOI announced that it had regained full ownership of Fantasy Project and will continue to work on the project independently. However, its Istanbul studio will be closed and an unconfirmed number of employees will be laid off.
“Dear community of players. Following the end of our external financing partnership on Fantasy Project“, IOI has taken back full ownership of the project and our intellectual property,” the studio said in a statement on social media.
“We will continue to develop and finance it independently of our other projects. In this context, we have had to find a new balance for the long-term future of the studio, focused on the success of our core internal titles rather than external projects and potential spin-offs of mobile games. This has involved changes as well as proposed changes in our studios: closing our Istanbul studio and initiating a separation process with colleagues who have played an important role in what makes IOI what it is is.
“Our immediate objective is to support those affected as best we can during this period. If you are aware of any opportunities within your network, we would sincerely appreciate any support you can offer to any of IOI’s talented individuals who may be looking for new opportunities.
IOI concluded: “These are difficult, but necessary, decisions in order to safeguard IO Interactive’s long-term future as one of the few fully independent AAA developers and publishers, as well as to give Project Fantasy the best possible foundation for success under our own passion and direction. Project Fantasy is a game, a world, and an intellectual property that we are fully committed to, and we can’t wait to share that love with you.
Yesterday, Xbox CEO Asha Sharma outlined the company’s “reset” plan and announced that it would cut a total of 3,200 jobs, starting with 1,600.
Additionally, the company also plans to abandon four studios, including Compulsion Games and Double Fine Productions, which are becoming independent again, while Ninja Theory and Undead Labs are looking for new owners.
Dishonored Developer Arkane Studios is also “initiating the required consultation with its works council to examine potential strategic options”, but due to French labor law the process will take longer.
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