Polyarc, the developer behind two of the best adventure games available on PSVR and PSVR2, has confirmed its had to significantly downsize after failing to secure funding following a project cancellation.
The studio made a name for itself with VR games Moss and the sequel, Moss: Book II. Both titles represent some of the best experiences available on Sony's two VR headsets, right alongside Astro Bot Rescue Mission.
However, the VR space isn't what it once was. Polyarc has confirmed its decision to "significantly reduce the size of the company" after it failed to "secure funding following the cancellation of a major project". The number of job losses isn't shared.
"We want to thank everyone impacted. Your work, creativity, and care mattered," a post to the developer's LinkedIn page said. "We made wonderful games together, and we would not have made it this far without you. Your contributions will continue to shape our culture and the games we make."
Today's news is only the latest major wave of layoffs to hit the VR development scene, and the wider gaming industry as a whole. Looking to PSVR2 specifically, Sony has failed to support its VR device past launch day, and it has been left to third parties to deliver a release lineup.