- IO Interactive has confirmed that it will be developing Project Fantasy as an independent studio.
- The change comes after the partnership between IO Interactive and Xbox dissolved following the recent restructuring.
- The studio has also announced a round of layoffs and the shuttering of its Istanbul studio.
IO Interactive has officially announced that it has reclaimed full ownership of its upcoming RPG IP, Project Fantasy. This comes after the end of the developers’ financial partnership with Xbox, which has also led to significant downsizing at IOI, including the shuttering of one of its studios.
IO Interactive Reveals Plans for the Studio and Project Fantasy After Recent Xbox Exit
In a statement shared by IO Interactive on its X account, the studio confirmed that it will continue to develop and fund Project Fantasy independently. However, this sudden shift in strategy has had its fair share of drawbacks in the form of significant internal restructuring, much like the recent layoffs at Xbox.
Project Fantasy, which was formerly known as Project Dragon, has been in development for years as an original online fantasy RPG. Xbox was previously in control of the publishing rights for Project Fantasy. However, the partnership has dissolved with Microsoft pivoting its strategy, which has also led to the recent Xbox downsizing.
IO Interactive’s transition to independent development has come with significant downsizing, as the 007 First Light developers have confirmed that it is closing its Istanbul studio and has begun a round of layoffs. Tackling the layoffs, the studio stated: “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.”
The studio also acknowledged the difficulty of these decisions, explaining how the changes are necessary for the future of IO Interactive as an independent AAA studio. Despite the loss of Xbox as its primary backer, IO Interactive has clarified the vision for the upcoming fantasy RPG title, stating: “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.”
The layoffs just add to the streak of heartbreaking news, especially after the recent disc developments at PlayStation and the layoffs at Xbox. However, with IO Interactive taking full ownership of Project Fantasy, players can hope that the Hitman developers will deliver a new IP that champions their strengths as a studio.
Are you excited about IO Interactive’s upcoming Project Fantasy? What do you want to see from the game? Tell us in the comments below!
