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Icelandic Game Studio Arctic Theory Lays Foundation for Ambitious Co-Op MMO in 2023

Helmed by veterans from CCP Games and EA, Arctic Theory is proud to reveal they are working on a genre-defining co-op MMO set to release in 2023. Arctic Theory has already raised 2 million USD in funding from its initial seed round in early 2022 and is in talks with prospective publishing partners. Founded by industry veterans with decades of experience creating some of the most iconic, ambitious multiplayer games enjoyed by millions worldwide, Arctic Theory is setting the groundwork for its own boundary-pushing massively multiplayer online game.

Codenamed Annex, the game takes place in a persistent, single-shared world where nature has taken over the remnants of a long-vanished civilization. By searching for resources, building infrastructure and solving logistical challenges, players will alter the landscape of Annex, creating everything from lone outposts, trade networks and humble settlements to large-scale, democratically run cities of industry.

“Players will collaborate with one another to explore and harness the vast landscape and its resources,” explains Creative Director Gísli Konráðsson. “They’ll have to learn to create the tools required to harvest these resources and solve the logistics of transporting and utilizing them. Ultimately, every player contributes to a common goal. Whether a lone prospector in the wilderness or a team working to build a factory in a new settlement, the whole of the player base is working together to make their mark in this incredible world. We’re beyond excited to bring this step in the evolution of the MMO to gamers who love the genre as much as we do. It will be a wholly unique playing experience.”

Expected to enter early access in late 2023, Arctic Theory will allow players to help shape the development process of the game from the very beginning as the team builds out the fundamentals and complex systems of Annex, testing features and engaging in feedback with those who will make up its growing population of explorers.

Arctic Theory received its first round of seed funding in early 2022 from Brunnur Ventures out of Reykjavík, allowing co-founders Gísli, Matthías Guðmundsson (CEO), Snorri Sturluson (Chief Architect) and Jón Bjarni Bjarnason (CTO) to onboard additional talent as development escalates. Current roles are live on the official website. Another round of funding is planned for sometime in early 2023.

The studio is also in early talks with potential publishing partners to help support and eventually bring the completed game to market worldwide. Further details on Annex will be released via press releases and across Arctic Theory’s social channels in the coming months as its talented development team achieves major development milestones.


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