"When we started Gravity Well, our goal was to create the best place in the world for developers to do their best work. Sadly, today we're having to take a big step back in achieving that goal. Gravity Well lost our funding this summer and have been searching for a new partner. We haven't secured funding yet," reads the post.
"[...] Everyone was informed of the situation as it was unfolding, and have been aware of this possibility if we were unsuccessful in finding new funding. We take it seriously that the team has stuck with us throughout this process, hopeful that we could find a solution before funds ran out. We are truly sad that we couldn't get it done in time to keep the team together."
Gravity Well will move forward with a much smaller team, although leadership described the studio's future as "uncertain."
As a result of being founded during the COVID-19 pandemic, Gravity Well styled itself as a "remote-native" business. During an interview with GamesIndustry.biz in 2020, studio leaders McCoy and Shiring laid out plans to craft an all-new franchise built on lessons learned on projects such as Titanfall and Apex Legends.
"For us, it's all about gameplay first, finding innovative spaces to explore and taking risks that maybe other people won't take. A lot of that is born out of our experience working on Call of Duty, Titanfall and Apex Legends," said McCoy.
"None of those games came about because of best laid plans. They all came about via trial, testing, playing it, throwing a bunch of stuff away, iterating and doing massive pivots halfway through a game."
That debut project has yet to be revealed six years after the company was founded.
Chris is an award-winning reporter with over a decade of experience covering the video game industry. He was formerly news editor at Game Developer and is currently the founder and editor of this resplendent website.
