007 First Light developer IO Interactive has revealed in a statement that it will continue developing Project Fantasy, having regained ownership of the IP following its split from Xbox, who was an external partner for the title.
Earlier this month, the company announced that it had parted ways with Xbox but assured its fan base that it was “100% committed” to Project Fantasy, but warned of possible layoffs. It’s now confirmed that development on the game is progressing with the IP now firmly in its grasp.
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 proposing 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.
Prior to this, the CEO of IO Interactive, Hakan Abrak, told The Game Business that Project Fantasy was “in a very healthy place,” but wouldn’t comment on who was the external partner for the title. The games was originally announced back in February 2023, and is set to take the form of an online RPG that is designed to keep players engaged for years to come.
[Source – VGC]