Another well-known VR studio faces layoffs after weak sales
Fast Travel Games, one of the most renowned VR studios, is laying off 30 employees. The reason is lower than expected sales.
Fast Travel Games has announced the sad news on X.
Below is the studio's full statement:
"Due to lower sales than expected from our six game launches in 2024, in combination with a more uncertain year ahead for VR games as a whole, we've taken the difficult situation to make 30 employees redundant at FTG. These changes will affect mainly our Publishing, Marketing, and Admin departments, although the Studio will also be impacted as we consolidate down to one development team.
This is an exceptionally difficult decision, but we believe it's necessary to ensure a stable and sustainable future of the company.
Our focus now is on supporting all Fast Travellers through this challenging time. We're grateful for the invaluable contributions of those leaving and remain committed to continue launching incredible games for our players."
It's not known how many employees Fast Travel Games has, but almost exactly a year ago the studio said it had just under 70 employees, consisting of publishing, marketing, and two development teams. Assuming the studio hasn't grown significantly over the course of 2024, the layoffs will likely affect a large portion of the studio.
Fast Travel Games has launched the following six VR games in 2024, two of which were developed in-house:
- Project Demigod (Publishing)
- Blackforge: A Smithing Adventure (Publishing)
- Mannequin
- Into The Radius (Publishing)
- Band Space (Publishing)
- Action Hero
According to Crunchbase, the VR studio had raised $9.8 million in funding by October 2023. In May 2024, MetaVision International invested an undisclosed amount in the company. A month earlier, the VR studio announced that it had sold more than a million VR games.
In recent months, layoffs in the VR industry have increased, which could indicate a turbulent year in 2025:
- January 2025: Soul Assembly lays off 15 percent of its workforce
- November 2024: Toast Interactive lays off 10 employees
- October 2024: XR Games lays off 72 employees
- September 2024: nDreams lays off up to 17.5 percent of its workforce
Note: Links to online stores in articles can be so-called affiliate links. If you buy through this link, MIXED receives a commission from the provider. For you the price does not change.
