ChronoForge, the multiplayer online RPG developed by Minted Loot Studios, is set to cease all operations on December 30, 2025, succumbing to a year of financial instability and unsuccessful funding attempts. The studio, along with its founder, confirmed the shutdown in a public announcement, detailing the events leading to the closure via Discord and X.
According to the statement, Minted Loot Studios had been sustaining the project with personal funds since July, operating with only 20% of its original staff. Despite launching in Early Access on the Epic Store on September 10 and achieving a user rating of 4.2, ChronoForge struggled to generate sufficient revenue or attract a publisher, investor, or acquirer to maintain development. While the team made efforts to improve the game and prepare for a token launch, they were ultimately unable to secure the necessary funding. In-game purchases will remain available until the shutdown date, but blockchain rewards have already been suspended.
Dogberto, the founder and CEO of ChronoForge and Minted Loot Studios, provided a comprehensive breakdown on Discord, characterizing 2025 as a challenging year for both web2 and web3 gaming, with the latter experiencing more pronounced difficulties in market demand and funding. Since January, the development team had laid off 80% of its staff and had been working without pay since July, while still hoping to secure deals with VC firms, publishers, and blockchain networks. Talks with multiple parties, including chains that withdrew mid-negotiation, ultimately fell through. Despite community support and continued development, the studio could not establish a sustainable path forward.
The shutdown of ChronoForge reflects a broader trend of financial strain within the Web3 gaming sector. The crypto winter of 2022-2023 and the collapse of enforced royalty systems eliminated approximately 90% of web3 game projects. Even with slight improvements in market conditions, major funding deals have dried up. By 2025, publishers and chains required fully functional, high-revenue games before considering partnerships, a significant shift from previous years when many titles secured millions during mid-development.
ChronoForge's $4.4 million in total funding fell short of what some competitors secured, with some securing over $17.9 million to support their launches. While the crypto market experienced a rebound in late 2025, funding for gaming remained stagnant. Token launch venues increased fees by as much as fivefold and introduced high requirements for engagement and liquidity, proving too demanding for mid-sized studios. Numerous teams that attempted to move forward were eventually forced to shut down or exit quietly.
Adding to the turmoil, multiple high-profile Web3 games, including Nyan Heroes, Blast Royale, and Ember Sword, have ceased operations in 2025 due to funding shortages, poor player retention, and a deteriorating investment climate. Studies indicate that 80-93% of Web3 games fail, with an average lifespan of just four months. This mirrors the broader gaming industry's high mortality rate, where 83% of mobile games fail within three years.
The "phased financing" model is struggling as token prices plummet, with an average 95% drop from their peaks, and VC interest wanes. Airdrops and play-to-earn models often fail to sustain long-term engagement. Some projects raised millions but delivered subpar products, eroding trust, while others prioritized tokenomics over gameplay, resulting in what some call "cyber garbage".
Dogberto emphasized that the decision to close ChronoForge was not taken lightly and that all possible avenues were explored to keep the game alive. He stated that the closure reflects deep-rooted issues within the web3 gaming model, particularly for high-cost, high-fidelity games. Dogberto also confirmed that there are no plans to pivot to a new project, and he will now focus on family and non-game development work. He has invited anyone seeking to hire talented developers, artists, or other contributors from ChronoForge to reach out. ChronoForge's final server shutdown is scheduled for December 30, with all in-game purchases and support ending on that date.
