Last week, IO Interactive announced that it was forced to cut some of its staff after Xbox abandoned funding for the Project Fantasy IP, first revealed over three years ago.
Today, the developer has confirmed that it regained complete control of the intellectual property and the project, which it still wants to fund out of its own pockets. However, the downside is that the Istanbul studio, which opened in March 2023, will have to shutter.
Following the end of our external finance partnership on Project Fantasy, IOI has regained full ownership of the project and our IP. We will continue to develop and fund it independently amongst our other projects. With this context, we had to find a new balance for the long-term future of the studio, focused on the success of our main internal core titles instead of external projects and potential mobile game derivatives. This has meant making changes as well as proposed changes across our studios: the closure of our Istanbul studio and starting a process to part ways with colleagues who have been a meaningful part of what makes IOI what it is.
Our immediate focus is on supporting those affected as best we can through this period. If you are aware of any opportunities within your network, we would be genuinely grateful for any support you can offer to any of the talented people across IOI who might be looking for new opportunities.
These are hard, but necessary decisions, in order to retain the long-term future of IO Interactive as one of the very few fully independent AAA developer and publisher, as well as to give Project Fantasy the best possible foundation to succeed under our own passion and direction. Project Fantasy is a game, a world, and an IP that we are wholly committed to, and we cannot wait to share the love with you.
It's an unfortunate situation that comes shortly after IO Interactive had secured a massive win with 007 First Light, which received rave reviews from critics and also sold quite well. Still, the development team is committed to this project, an online fantasy action RPG built as an online world intended to grow over many years. The early concept art and developer comments suggest a classic high-fantasy setting with party-based adventuring: elves, humans, and dwarves; armor and weapons; sweeping plains; and a large-scale journey vibe rather than a grim or overly dark world.
IOI has said the project is inspired in part by the Fighting Fantasy books and by the appeal of a diverse group of characters working together. IO Interactive has also described it as familiar but unlike anything it has made before. Hopefully, the studio can continue working on it to bring Project Fantasy to players in the future.
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
Follow Wccftech on Google to get more of our news coverage in your feeds.
