Overview
- A Bloomberg report says the Shovel Knight studio has churned through most of its capital, characterizing the company’s situation as an existential struggle.
- Co-founder Sean Velasco called Mina “make-or-break,” saying 500,000 sales would be ideal, about 200,000 would be strong, and roughly 100,000 would fall short.
- Yacht Club has downsized, is closing its office to run fully remote, and reporting indicates headcount has dropped to around 15 people.
- Mina was delayed weeks before its planned October 31 launch and now lacks a date, with the game playable start to finish but still undergoing fixes and polish after demo feedback.
- The separate 3D Shovel Knight project is on hold as the team focuses on Mina, with reporting indicating a 2026 launch target for Switch and a successor Switch model and leadership saying poor sales would require new funding.