Key Takeaways
- Greg Street announced that Fantastic Pixel Castle will shut down on November 17, 2025, after failing to secure new funding.
- The studio was developing Ghost, a “modernized fantasy MMORPG.”
- This marks the third NetEase-affiliated studio closure in just two years.
Fantastic Pixel Castle Shuts Down After Losing Funding
Fantastic Pixel Castle, the independent studio led by Greg Street, will officially close its doors on November 17, 2025, following unsuccessful efforts to secure new funding. The news was shared by Street on LinkedIn on November 3, where he confirmed the shutdown and thanked fans, partners, and former backers.
Founded in 2023 with the support of NetEase Games, Fantastic Pixel Castle was developing an ambitious MMORPG titled Ghost, described as a “modernized fantasy world” designed to merge social gameplay with large-scale online experiences. Despite early enthusiasm from the MMO community, the studio struggled to maintain financial stability after its split from NetEase earlier this year.
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A Dream Project Cut Short
In his post, Street revealed that while there is still a slim chance the team could secure funding after the official closure date, much depends on how many developers remain available. He also encouraged potential employers and investors to reach out through LinkedIn, as the studio’s email and website will soon be deactivated.
“While there is still a chance we can secure funding after that date, it will depend on how much of the team remains,” Street wrote. “LinkedIn will be the best way to reach us.”
Street took time to thank NetEase Games for supporting the studio’s initial vision and for “taking a chance” on their project. However, after the partnership ended, the studio was left to seek external investors or publishers to keep Ghost alive.
Fantastic Pixel Castle had been exploring two contingency plans:
- Downscoping Ghost into a smaller, more sustainable version.
- Pivoting the team toward developing a game for another studio or publisher.
Unfortunately, neither path materialized in time to prevent the closure.
Another Blow for NetEase’s First-Party Efforts
The closure of Fantastic Pixel Castle marks the third first-party studio shutdown under NetEase Games in just two years. Before this, Ouka Studio in Japan and T-Minus Zero both ceased operations, highlighting the ongoing challenges NetEase faces in maintaining its global development network.
Founded with the ambition of blending Western MMO design expertise with NetEase’s publishing reach, Fantastic Pixel Castle was seen as a major step for the Chinese publisher’s Western expansion strategy. Its loss underscores the increasing financial pressures in the AAA online games market, particularly for studios pursuing large-scale multiplayer experiences without a major publisher’s ongoing backing.
Greg Street’s Legacy in the MMO Genre
Greg Street, a veteran in the gaming industry, brought decades of experience to Fantastic Pixel Castle. He is best known for his work as a lead systems designer on World of Warcraft and later as an executive on Riot Games’ unannounced MMO project. His return to independent development was seen as a passion-driven move to create a new kind of MMO centered on community collaboration and storytelling.
The closure of Fantastic Pixel Castle may not spell the end for Ghost entirely—Street’s message hinted that some elements of the project might survive if new funding emerges. However, for now, the ambitious fantasy MMO will join the growing list of high-concept online games that never made it to release.
The End of an Ambitious Chapter
As the studio winds down operations, Street emphasized that his priority is helping his developers find new roles in other studios. His transparency and leadership have drawn praise across the industry, even as Ghost remains unfinished.
Fantastic Pixel Castle’s closure serves as a stark reminder of how volatile game development can be—even for veterans. For many MMO fans who were excited about the promise of Ghost, the news marks the quiet end of what could have been a defining project in modern online gaming.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of GameDegen.com. Before making any investment decisions, you should always conduct your own research. GameDegen.com is not responsible for any financial losses.
