Former Riot Games vice president Greg Street established Fantastic Pixel Castle in 2023 to develop a new MMO named Ghost. Recently, he announced that the studio’s partnership with NetEase is concluding, indicating a high likelihood of closure if a new publisher is not located in the near future.

Street shared the disappointing news via a message on LinkedIn and other social media platforms. He stated:

“I wanted to share the news that Fantastic Pixel Castle’s time as a first-party studio within NetEase Games is coming to an end. NetEase Games has been very gracious and supportive of looking for another publisher for our game. However, in the current market environment, very few deals are getting made for any game, let alone something on the scale of an MMORPG.”

He also noted,

“We’re doing everything we can to find a publisher or investor. At the same time, we’re encouraging our team members to explore future opportunities and supporting them through the uncertainty. If we’re unable to find a publisher soon, the reality is that the studio would likely close, and the entire team, leadership included, would be affected.”

This announcement follows a trend in the gaming industry where several studios have faced closure or downsizing due to shifting market conditions. Street emphasized the difficulties facing the industry, stating it is currently “absurdly challenging.” As the search for a publisher continues, the fate of Ghost remains uncertain.