LogInProject 8 cost nearly $12 million, and eventually quietly vanished.
In Poland, drama continues to surround Project 8, a now-canceled game by 11 bit studios, the creators of The Alters, Frostpunk, and This War of Mine. The title was quietly discontinued in December 2024, after consuming nearly $12 million over several years of development. Investors, journalists, and the Association of Individual Investors in Poland now want transparency, and they're ready to escalate the issue to the country’s financial regulatory authorities.
The Alters, 11 bit studios
The drama kicked off publicly in August 2024, when the company’s president assured stakeholders that development was progressing on schedule. However, just four months later, in December, the studio released a press statement indicating that an internal audit might lead to the cancellation of one of its projects and a financial write-off of 50 million PLN (approximately $12 million).
This announcement led to a 34% drop in the company’s stock price, and shortly afterward, 11 bit studios officially confirmed the termination of Project 8, along with a round of layoffs. The company attributed the decision to doubts about the game’s potential return on investment. Project 8 had been in development since 2018, intended as the studio’s first major console-focused title, and had already gone through multiple budget increases and extended development cycles.
In January 2025, the Polish Association of Individual Investors publicly accused 11 bit studios of misleading shareholders and failing to communicate effectively with the market. They pointed out that as recently as September 2024, the company had expressed confidence in the project’s future, only to cancel it a few months later. They were also not happy about the lack of clarity in how the studio announced the closure.
By May, the same association published an article stating that without a full explanation of what happened to Project 8, 11 bit studios would not be able to rebuild investor trust. The piece also suggested that company leadership was deliberately trying to downplay or bury the issue.
At the June 2025 annual shareholders' meeting, several investors once again raised concerns about Project 8, requesting transparency and accountability. However, studio leadership refused to respond on the spot, instead asking that questions be submitted in writing. An independent audit of the project was also rejected.
According to a report by one of the Polish media outlets, as of early August, the company had still not addressed investor questions or provided a public explanation to the press. In response, the Association of Individual Investors formally reported the matter to Poland’s Financial Supervision Authority, citing a potential breach of disclosure obligations.
Stay tuned for more drama! Previously, 11 bit studios has been criticized for not disclosing the use of generative AI in The Alters. Don't forget to join our 80 Level Talent platform and our Discord server. Follow us on Instagram, Twitter, LinkedIn, Telegram, TikTok, and Threads for breakdowns, the latest news, awesome artworks, and more.