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Rhode Island selling 38 Studios' game assets

Justin Olivetti — Mon, 20 May 2013 14:00:00 EST

Filed under: MMO Industry, Legal, Miscellaneous

Do you have a few million on you and a desire to preserve some gaming history? Then pick up the phone and call Rhode Island, as the state is getting ready to sell 38 Studios' assets, including its games.

The state is looking to recoup some of it $130 million debt that it fell into once 38 Studios went belly-up. One of Rhode Island's lawyers says there "is interest" in the studio's assets, including concept art, design documents, and computer software. The sale of 38 Studios' IP includes the Amalur franchise, which encompassed the Project Copernicus MMO.

The state is also set to begin a lawsuit this week against former 38 Studios execs, including founder Curt Schilling. The suit claims that the executives did not inform the state when they knew that the studio would have a hard time keeping afloat financially. Schilling has asked the judge to dismiss the suit.

Rhode Island selling 38 Studios' game assets originally appeared on Massively on Mon, 20 May 2013 14:00:00 EST. Please see our terms for use of feeds.

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38 Studios auctions recoup $830k of $150.7M owed

Shawn Schuster — Fri, 26 Oct 2012 17:00:00 EST

Filed under: Fantasy, Economy, MMO Industry

Earlier this week, 38 Studios' former headquarters in Providence, Rhode Island played host to a public auction that brought in approximately $650,000 through over 1,000 bidders. If you combine this number with last week's auction at the studio's Big Huge Games division, the total recouped through auctions came to $830,000. This is unfortunately only a fraction of the estimated $150.7 million owed in bankruptcy filings, but the best part hasn't been put up on the block yet.

The Kingdoms of Amalur intellectual property is said to be "sold in a negotiated transaction over the next three to six months," according to Joystiq. The total from that sale doesn't expect to cover the entire amount owed, which leaves the remainder up to the Rhode Island taxpayers.

38 Studios auctions recoup $830k of $150.7M owed originally appeared on Massively on Fri, 26 Oct 2012 17:00:00 EST. Please see our terms for use of feeds.

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Schilling 'tapped out' after loss of 38 Studios

Jef Reahard — Fri, 22 Jun 2012 11:00:00 EST

Filed under: Business Models, Economy, MMO Industry, News Items, Miscellaneous

Curt Schilling has spoken to a Boston radio station about the lingering effects of 38 Studios' demise. The former Red Sox pitcher has been vilified by some gamers who assume that he's living the high life while former employees are suffering, but he tells WEEI that that's pretty far from the truth.

"The money I saved and earned playing baseball was probably all gone... life is going to be different," he says.

Rhode Island taxpayers will also be tightening their belts, as they'll pay nearly $12 million annually through the year 2020 to cover 38's $150 million debt, according to Joystiq. Schilling also revealed that 38 Studios was close to signing a deal to produce a Kingdoms of Amalur: Reckoning sequel prior to remarks made by Rhode Island governor Lincoln Chafee that supposedly damaged the negotiation process.

Schilling also expressed remorse at the plight of former 38 Studios employees. "The employees got blindsided," he said. "They have every right to be upset. I always told everybody if something were going to happen, you're going to have a month or two of lead time, and I bombed on that one in epic fashion."

Schilling 'tapped out' after loss of 38 Studios originally appeared on Massively on Fri, 22 Jun 2012 11:00:00 EST. Please see our terms for use of feeds.

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Alleged 38 Studios spouse outlines family's financial struggles after company's closure

Jef Reahard — Wed, 13 Jun 2012 14:00:00 EST

Filed under: Culture, MMO Industry, News Items, Miscellaneous

38 Studios stories continue to circulate through the gaming media this week, with the latest arriving courtesy of Gamasutra. The industry news site has published an anonymous letter from an alleged former employee's wife that details the challenges inherent in supporting a large family that is subject to the whims of the game industry.

The letter outlines the family's financial struggles in great detail, and it serves as a cautionary tale to game industry hopefuls who are thinking of uprooting a family to follow a dream. Though the author is unnamed and could quite literally be anyone, Gamasutra says it has "verified her husband's name and former position at 38 Studios."

Alleged 38 Studios spouse outlines family's financial struggles after company's closure originally appeared on Massively on Wed, 13 Jun 2012 14:00:00 EST. Please see our terms for use of feeds.

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38 Studios declares bankruptcy, law enforcement investigating [Updated]

Matt Daniel — Thu, 07 Jun 2012 14:00:00 EST

Filed under: Culture, Economy, MMO Industry, News Items, Miscellaneous

38 Studios, in a move surprising absolutely no one, has declared bankruptcy. This report comes hot on the heels of the news that the Project Copernicus developer has laid off all of its employees and sold Big Huge Games. In addition to covering the bankruptcy, the Providence Journal revealed that "state and federal authorities have launched an investigation into [the company]."

State police Col. Steven G. O'Donnell states that the inquiry is taking place "to investigate activities that have recently come to light at 38 Studios." According to the Journal, these activities include taking out loans totaling $8.5 million US "based on state film tax credits that had not yet been issued." Things are looking pretty grim for Curt Schilling and his studio, but we'll just have to stay tuned to see how the rest of this plays out.

[Update: Our sister site Joystiq reports that the Rhode Island governor has stated, "We are going to do everything possible to maximize return on our investment [...] Taxpayers in Rhode Island can have full confidence that if there's a penny that we can get, or a nickle or a dime, we'll get it." The company is suspected to be worth "tens of millions of dollars."]

38 Studios declares bankruptcy, law enforcement investigating [Updated] originally appeared on Massively on Thu, 07 Jun 2012 14:00:00 EST. Please see our terms for use of feeds.

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EVE Evolved: Lessons from 38 Studios

Brendan Drain — Sun, 27 May 2012 18:00:00 EST

Filed under: Sci-Fi, EVE Online, Business Models, Culture, Events (Real-World), MMO Industry, Opinion, EVE Evolved, Sandbox

This week we heard the news that Kingdoms of Amalur developer 38 Studios shut down and let go all 379 full-time staff. It's always a tragedy when good developers are made jobless, especially if the job losses come out of nowhere and hit people who have only recently been hired. 38 Studios was still hiring people shortly before it collapsed, and some of those recent hires were ex-CCP developers who were part of the 20% of staff fired at the end of last year.

The shutdown of 38 Studios is a sobering reminder of the problems in EVE Online's development that led to monoclegate. Both studios were mismanaged, with the jobs of hundreds of developers gambled on the outcome of poorly researched business decisions. EVE Online thankfully survived CCP's failed microtransaction gamble, but 38 Studios' Project Copernicus may never see the light of day.

In this week's EVE Evolved opinion piece, I look into the similar circumstances that forced CCP Games and 38 Studios to fire staff, and draw some lessons from them for which I believe the industry should take heed.

Continue reading EVE Evolved: Lessons from 38 Studios

EVE Evolved: Lessons from 38 Studios originally appeared on Massively on Sun, 27 May 2012 18:00:00 EST. Please see our terms for use of feeds.

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38 Studios lays off entire staff, sells Big Huge Games [Updated]

Justin Olivetti — Thu, 24 May 2012 17:00:00 EST

Filed under: MMO Industry, Legal, Miscellaneous

The 38 Studios disaster continues to unfold today, as the troubled studio laid off its entire staff and may be selling off its Big Huge Games division in Boston. Boston's Fox 25 News speculates that the studio may close by this weekend.

38 Studios CM Charles Dane confirmed being laid off on Twitter: "Now on the market. I had an awesome run with 38 Studios, but this dream is now ending."

Word is that the company is also selling its subsidiary, Big Huge Games. Big Huge Games is the maker of Kingdoms of Amalur: Reckoning, 38 Studios' single-player prequel to its Copernicus MMO. This would not be the first time that Big Huge Games was sold by its parent company, as the studio experienced the same event back in 2009.

Oh his Facebook page, Curt Schilling stressed that Reckoning did quite well in sales. "I wanted to clear up some misinformation around 38 Studios' first product, Reckoning. Sales of Reckoning outperformed EA's expectations and sold more than 1.2 million units in the game's first 90 days in the market."

[Update]: Developer Ryan Shwayder has also confirmed the layoffs via his personal blog.

38 Studios lays off entire staff, sells Big Huge Games [Updated] originally appeared on Massively on Thu, 24 May 2012 17:00:00 EST. Please see our terms for use of feeds.

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38 Studios' Project Copernicus to release in June 2013, says RI governor

Justin Olivetti — Fri, 18 May 2012 14:30:00 EST

Filed under: Fantasy, Launches, MMO Industry, Legal

It is not every day that a U.S. governor is the one to announce the launch window for an MMO, so savor the weirdness while you can: Rhode Island Governor Lincoln Chafee announced at a press conference that 38 Studios will be releasing code-name Project Copernicus next summer. "What I understand is Copernicus is June of '13," Chafee said. He also stated that he thought the financial deal was a "risky enterprise" from the start.

38 Studios Founder and Chairman Curt Schilling said on Facebook that rumors of his using the state funds to repay his personal investment in the company was "not true." In a separate post, Schilling attempted to set an optimistic tone: "We will find a way, and the strength, to endure."

We have been following the financial turmoil that 38 Studios is in following its default on paying back Rhode Island for its $75 million loan. The studio and state are looking for options, but in the meanwhile, 38 Studios has been struggling to make payments by holding back employee paychecks and seeking additional capital from private investors.

38 Studios' Project Copernicus to release in June 2013, says RI governor originally appeared on Massively on Fri, 18 May 2012 14:30:00 EST. Please see our terms for use of feeds.

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38 Studios paying state back by not paying employees

Eliot Lefebvre — Thu, 17 May 2012 18:00:00 EST

Filed under: MMO Industry, News Items, Legal, Miscellaneous

If you're familiar with the phrase "robbing Peter to pay Paul," you'll understand the latest episode in the ongoing 38 Studios financial crisis. Except replace "Paul" with "the state of Rhode Island" and "Peter" with "the company's employees." Yes, in order to make the most recent payment to the state that sparked this whole crisis, the Rhode Island Economic Development Corporation has been informed that Curt Schilling's company is paying the state but not paying any of the company's employees. According to anonymous sources, all temporary employees and contractors have also been terminated.

While this measure might help forestall immediate action, the company is still on the hook for a $75 million loan, and Rhode Island governor Lincoln Chafee has made it clear that the company is looking for more assistance from the state in order to remain viable. 38 Studios continues to make no public statements at this time. We'll no doubt have more on this story in the coming days as it continues to develop.

38 Studios paying state back by not paying employees originally appeared on Massively on Thu, 17 May 2012 18:00:00 EST. Please see our terms for use of feeds.

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If 38 Studios goes under, Rhode Island taxpayers will be footing the bill [Updated]

Matt Daniel — Tue, 15 May 2012 15:00:00 EST

Filed under: MMO Industry, News Items, Miscellaneous

Project Copernicus and Kingdoms of Amalur: Reckoning developer 38 Studios is in some hot water, but it looks like that may be the least of your worries if you're a Rhode Island resident. Rhode Island's WPRI reports that if the studio founders and can't pay back the bonds given to it by the state, then the onus of doing so will fall upon Rhode Island taxpayers.

How much moolah are we talking about? Something to the tune of $112.6 million US. According to Joystiq, "If 38 Studios can't pay, the governor is required to ask the General Assembly to repay bondholders," which means that Rhode Island taxpayers will be responsible for footing the bill by 2020. For now, though, both the studio and the Rhode Island government are tight-lipped on the studio's future, and by association, the future of Project Copernicus, so we'll just have to wait and see how this plays out.

[Update: Our sister site Joystiq reports that 38 Studios "missed its latest loan payment of $1.125 million to the state of Rhode Island on May 1, effectively defaulting [on] its $75 million loan." Rhode Island's Economic Development Corporation will hold an emergency meeting tomorrow morning to discuss the situation.]

If 38 Studios goes under, Rhode Island taxpayers will be footing the bill [Updated] originally appeared on Massively on Tue, 15 May 2012 15:00:00 EST. Please see our terms for use of feeds.

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Rumor: 38 Studios may be having financial trouble

Eliot Lefebvre — Mon, 14 May 2012 20:20:00 EST

Filed under: Lore, News Items, Rumors, Miscellaneous

38 Studios is one of many developers whose first big game (Kingdoms of Amalur: Reckoning) was rumored to lead into an MMO further on down the line. It looks like there may be storm clouds on the horizon before that project even gets moving, however, as the company may be facing financial issues. Rhode Island Governor Lincoln Chafee has apparently been meeting with owner Curt Schilling to work on "different issues," with Chafee noting that his administration has always tried to ensure that Rhode Island companies remain financially solvent.

If you consider that Rhode Island invested about $75 million in the company, it's obvious that the government has an interest in making the company remain viable over the long term. Kingdoms of Amalur: Reckoning was a moderate hit, but that might not be enough for the company as it develops. We'll have more on this story as it develops, hopefully with better news.

Rumor: 38 Studios may be having financial trouble originally appeared on Massively on Mon, 14 May 2012 20:20:00 EST. Please see our terms for use of feeds.

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Creating a new world: 38 Studios discusses the formation of Amalur's IP

Justin Olivetti — Fri, 27 Jan 2012 09:00:00 EST

Filed under: Fantasy, Interviews, MMO Industry

As MMO fans, we're keeping a close eye on 38 Studios for its development of Project Copernicus, the MMO that will serve as the follow-up to next month's Kingdoms of Amalur: Reckoning. The risk factor of not only developing two major intertwined projects in parallel but to have the additional task of creating a brand-new IP in which to put them must be a pressing one, which is why CVG sat down with Reckoning Lead Designer Ian Frazier to talk about challenges the studio has been tackling.

Frazier outlines the balance the studio's struck between its three big-name creators -- Todd McFarlane (art), R.A. Salvatore (story), and Ken Rolston (design) -- not to mention the ideas that pour in from founder Curt Schilling. Fortunately, Frazier says that these larger-than-life personalities mesh well together: "The nice thing that's worked out is, I think if we'd got three famous game designers, it would have been a disaster: big egos, they're all on the same plane, it wouldn't have worked out. What makes this work is they're all different."

Even though Rolston previously worked on The Elder Scrolls: Oblivion, Frazier said the designer wanted to try his hand at something fresh with a better combat system. "They're all great games," Frazier said of the Elder Scrolls series, "and I think they're progressively better, but they're all the same game. It's not like they're radically changing with time."

Frazier said Reckoning has been compared to a "single-player WoW" as well as Dragon Age and Fable, but he insists that the world and ideas the team's been creating will take it far past those basic comparisons.

You can take your first peek into the world of Amalur with the Reckoning demo -- and let us know what you think in the comments!

Creating a new world: 38 Studios discusses the formation of Amalur's IP originally appeared on Massively on Fri, 27 Jan 2012 09:00:00 EST. Please see our terms for use of feeds.

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The world (wide web) of Amalur grows as 38 Studios works on its MMO

Justin Olivetti — Thu, 19 Jan 2012 21:00:00 EST

Filed under: Fantasy, Lore, Previews

With Kingdoms of Amalur: Reckoning just around the corner and Project Copernicus waiting in the wings, 38 Studios is fattening its golden website for the upcoming feast. The studio has expanded the site devoted to the world that both of these games inhabit, and those looking for hints and portents of the studio's upcoming MMO would do well to seek lore within its pages.

Describing the website expansion as a "treasure trove" of new info, 38 Studios has added new landing pages, navigation features, and information about one of the game's races: the Gnomes. The Gnomes are described as "an enigmatic people. They bestow wondrous gifts of knowledge, medicine, and magic to befriend the other kingdoms, yet seldom reveal their plans or intentions to outsiders." It's interesting to note that the Gnomes are divided up into three casts, which does tempt the mind into thinking the word "classes."

Kingdoms of Amalur: Reckoning is the single-player RPG that's meant to fill the role of a prologue -- in both real-world and in-game time -- to the much larger Copernicus MMO.

[Thanks to Sketchit for the tip!]

The world (wide web) of Amalur grows as 38 Studios works on its MMO originally appeared on Massively on Thu, 19 Jan 2012 21:00:00 EST. Please see our terms for use of feeds.

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38 Studios opens a website portal to Project Copernicus' world

Justin Olivetti — Tue, 08 Nov 2011 12:30:00 EST

Filed under: Fantasy, Lore, Previews

While 38 Studios' top-secret Project Copernicus MMO lacks a proper title or most of its details, at least we can now visit the world that it and its single-player RPG brother, Kingdoms of Amalur: Reckoning, inhabits.

The studio launched a pair of websites devoted to the game world and its first game today. Over on Amalur, 38 Studios has unleashed its loremasters to share with you the stories, features, histories, and settings of this fantasy landscape. And while Reckoning is just a prequel to the eventual MMO, its website contains quite a few lore snippets as well as a world map to pour over while you're planning your future conquests.

As part of the twin projects, R.A. Salvatore has created over 10,000 years of fictional history for the world of Amalur, stretching from The Deep Gloam to the Age of Heroes. Reckoning takes place during the Age of Arcana, with Copernicus happening some time thereafter.

38 Studios opens a website portal to Project Copernicus' world originally appeared on Massively on Tue, 08 Nov 2011 12:30:00 EST. Please see our terms for use of feeds.

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Preview the world of Copernicus with 38 Studio's Kingdoms of Amalur: Reckoning trailer

Jef Reahard — Tue, 12 Apr 2011 10:30:00 EST

Filed under: Fantasy, Trailers, Video, MMO Industry, New Titles

38 Studios has been in the news quite a bit over the last year despite not having a released game under its belt. While the upstart company still lacks a finished product, it's one step closer with today's release of the first gameplay trailer for Kingdoms of Amalur: Reckoning.

The footage from the upcoming single-player RPG gives fans a first look at the world of Amalur, which 38 Studios will revisit in the Copernicus MMO to follow. In addition to featuring company president (and former World Series MVP) Curt Schilling, Reckoning boasts an impressive array of talent from both 38 Studios and Big Huge Games including lore-master R.A. Salvatore, former Morrowind and Oblivion lead designer Ken Rolston, and Spawn creator Todd McFarlane.

The video clip showcases a good look at Amalur's fantasy trappings, glimpses of combat with several creatures (including a big bad), and a 2012 release date. Check out all the details after the cut.

Continue reading Preview the world of Copernicus with 38 Studio's Kingdoms of Amalur: Reckoning trailer

Preview the world of Copernicus with 38 Studio's Kingdoms of Amalur: Reckoning trailer originally appeared on Massively on Tue, 12 Apr 2011 10:30:00 EST. Please see our terms for use of feeds.

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38 Studios set to expand the world of Amalur into merchandising and a newsletter

Rubi Bayer — Tue, 28 Sep 2010 12:00:00 EST

Filed under: Fantasy, MMO Industry, News Items

Kingdoms of Amalur is a familiar name to gamers who are looking forward to Project Copernicus, the mysteriously code-named MMO under development by 38 Studios.

If you're finding it hard to wait for more news on this project, 38 Studios has just the thing to distract you. The world of Amalur, created by R.A. Salvatore and Todd McFarlane, is going to begin showing up in the real world soon in the form of comics, toys, novels, and even a few more games. Not a surprise there, amirite?

Speaking of other games set in Amalur, you'll see more from Reckoning soon. The single-player game is set to launch fall of 2011, and the game's online newsletter will launch in October.

Will all of this activity surrounding Amalur include new information on Copernicus? It seems likely and it's fun to speculate, so here's hoping!

[Thanks to everyone who sent this in!]

38 Studios set to expand the world of Amalur into merchandising and a newsletter originally appeared on Massively on Tue, 28 Sep 2010 12:00:00 EST. Please see our terms for use of feeds.

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GenCon 2010: Fantasy fencing with 38 Studios

Justin Olivetti — Mon, 09 Aug 2010 13:00:00 EST

Filed under: Fantasy, Events (Real-World), Interviews, Previews, Interviews (Massively's), Events (Massively's Coverage)

One thing is for certain: When you are sitting in the crosshairs of Curt Schilling and R.A. Salvatore during an interview, it's easy to become bowled over by their collective intensity and passion, especially when it comes to their interest in games and fantasy worlds.

While GenCon Indy lacked its usual MMORPG presence this year, Massively was able to grab a few minutes of face time with 38 Studios' founder and lead writer as they passed through the convention. It was a bit of an odd interview, however, as two of the biggest topics -- 38 Studios' move to Rhode Island and any solid details about their top-secret MMO -- were off the table for discussion. Do not fret, as that certainly didn't stop us from trying to pry for a few hints along the way. Schilling and Salvatore were obviously eager to spill the beans about Copernicus, but they are still biding their time until the right moment.

Happily, the duo didn't mind us fencing with them for facts, and were quite open about their single-player RPG lead-up to Copernicus, their general philosophy of designing the MMO, and why they've waited so long to unveil it to the public. Read on, gentle gamers, for a few ripostes, parries and lunges with two of the biggest figures in the industry right now.

Continue reading GenCon 2010: Fantasy fencing with 38 Studios

GenCon 2010: Fantasy fencing with 38 Studios originally appeared on Massively on Mon, 09 Aug 2010 13:00:00 EST. Please see our terms for use of feeds.

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38 Studios moves next door to Rhode Island for 75 million smackers

Justin Olivetti — Tue, 27 Jul 2010 19:00:00 EST

Filed under: MMO Industry

Two weeks ago we reported that Rhode Island was attempting to woo 38 Studios away from Massachusetts with a tempting $75 million loan guarantee. Today we've gotten word that Curt Schilling's company has indeed taken the bait, and will be relocating to The Ocean State due to this sweet incentive.

While there's no definite timetable on the move, Mass High Tech reports that this loan guarantee comes with a few strings attached: 38 Studios will receive partial loan payments only upon meeting certain milestones, and the company has to put all of its assets up for collateral. The loan comes from a special $125 million program to create high-tech jobs in Rhode Island, and the state hopes that 38 Studios will account for up to 450 new jobs once it arrives.

Curt Schilling promised to "protect the loan guarantee that's been given by the state with the same passion and interest that I'm protecting my own investment in this company." 38 Studios recently announced that its single-player RPG, Kingdoms of Amalur: Reckoning, will be published by EA next year, with its MMO -- code-named "Copernicus" -- to follow.

38 Studios moves next door to Rhode Island for 75 million smackers originally appeared on Massively on Tue, 27 Jul 2010 19:00:00 EST. Please see our terms for use of feeds.

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