An Update from PlayStation Studios (Neon Koi and Firewalk Studios are closing)
An Update from PlayStation Studios (Neon Koi and Firewalk Studios are closing)

An Update from PlayStation Studios

Neon Koi was developing a mobile action game. Firewalk Studios recently launched and quickly delisted Concord.
A dumpster fire of a situation. 8 years of development, $400 million reported budget, game shut down after 2 weeks and now the studio closed.
AAA gaming is a hot mess right now.
Both the development time and the budget have come in at a variety of different numbers with people refuting them, and I'll bet several of those figures depend on how you count. The range is now somewhere between 4-10 years, and $50-$400M, which is an absurd amount of variance, but even at 4 years and $50M, it's still probably too long and too much money to spend on a game that you don't know is going to find a substantial audience.
EDIT: Kotaku is reporting that the acquisition was $200M and did not cover all development costs, which lends credence to that report from Colin Moriarty claiming $200M pre and then $200M post acquisition for the figure of $400M.
Greatly appreciate the followup!