Fantastic Pixel Castle shuts down as funding falls through; MMO codename Ghost on hold
Fantastic Pixel Castle has confirmed it will close on November 17, 2025, after efforts to find a new publisher or investor for its in-development fantasy MMO came up short. Studio head Greg Street shared the update on LinkedIn, calling the moment heartbreaking but not without a sliver of hope: if enough team members stay on, there’s a small chance the project could still secure funding even after the doors officially close.
Street emphasized that the studio’s top priority now is its people. The team will be supported in finding new roles, whether that’s with a lean “Fantastic Castle 2.0” indie effort or at other established game and tech companies. He also thanked the many individuals who made introductions and tried to connect the studio with capital, noting that sometimes it only takes one deal to change everything. Street also expressed appreciation for the backing the studio received from NetEase.
Founded in 2023 by Street after his departure from Riot Games, Fantastic Pixel Castle was building a PC-focused fantasy MMO known internally as Ghost. Street, widely known as Ghostcrawler, previously spent a decade at Blizzard as lead systems designer on World of Warcraft before moving on to help shape League of Legends during his time at Riot.
The closure follows a broader strategic shift at NetEase in late 2024 that led to the wind-down of several Western-led startup studios within a year, including T-Minus Zero, Jar of Sparks, and Worlds Untold. None of these teams were able to ship a game before their projects were halted. In early October, Street disclosed that NetEase had cut funding and first-party support for Fantastic Pixel Castle’s MMO, prompting a frantic search for new partners that ultimately did not materialize.
What this means for MMO fans is uncertain. Ghost had quietly built excitement thanks to its veteran leadership and the promise of a fresh, systems-driven online world. With the studio preparing to close, the project’s future hinges on whether a last-minute backer steps in and whether enough of the original team can remain intact to carry the vision forward.
Key points
– Closure date: November 17, 2025
– Project status: Fantasy MMO codenamed Ghost, paused pending new funding
– Leadership: Greg “Ghostcrawler” Street, ex-World of Warcraft and League of Legends
– Why it happened: Funding and support were cut; attempts to secure new publishing or investment fell through
– What’s next: Helping developers find jobs; a slim chance of revival if financing arrives and the team stays together
For players and developers alike, this is another stark reminder of how fragile ambitious MMO development can be, even with industry veterans at the helm. If circumstances change, Ghost could still find a lifeline—but for now, Fantastic Pixel Castle is preparing to close its doors.
