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NetEase shuts down overseas studio T-Minus Zero, citing funding issues
NetEase has shut down its Austin-based studio T-Minus Zero due to funding issues. Co-founder Rich Vogel noted that despite the team's progress, the current market environment hindered additional funding. The closure reflects NetEase's reassessment of its strategic priorities and was confirmed to involve careful consideration and team support for follow-up arrangements.
Key points
- NetEase closes T-Minus Zero, an Austin-based studio.
- The studio was co-founded by Rich Vogel and industry veterans from BioWare and Bethesda in September 2023.
- Despite progress on a playable demo, the studio could not secure necessary funding.
- A spokesperson mentioned the decision followed careful consideration of strategic priorities.
Why it matters
- The gaming industry has been facing funding challenges, especially for startups.
- This closure is indicative of a larger trend in the gaming sector, where many companies reassess their investments amid economic uncertainties.
- The rise of venture capital in gaming has been significant, but it is increasingly selective and competitive.
The shutdown of T-Minus Zero by NetEase highlights the struggles of gaming studios to secure funding in a challenging market, emphasizing the need for strategic adjustments within the industry.