IO Interactive has announced that it has regained full ownership of Project Fantasy following the end of its external financing partnership, with the studio confirming it will continue to develop and fund the game independently.
In a statement shared on social media, IO Interactive said the change required the company to rebalance its long-term strategy, resulting in the closure of its Istanbul studio and the start of a process to part ways with a number of employees.
“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,” the studio said.
According to IO Interactive, the restructuring is intended to shift its focus towards its main internally developed titles rather than external projects and potential mobile game derivatives.
The company said its immediate priority is supporting affected employees and encouraged others in the industry to consider hiring those impacted by the layoffs.
“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.”
IO Interactive described the decisions as difficult but necessary, saying they are intended to secure the company’s future as an independent AAA developer and publisher while giving Project Fantasy “the best possible foundation to succeed under our own passion and direction.”
The studio concluded by reaffirming its commitment to the project, adding, “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.”
