Ashes of Creation Shuts Down Following Early Access Launch Collapse

On January 31, 2026, the ambitious MMORPG Ashes of Creation faced an unforeseen and catastrophic shutdown, as its developer, Intrepid Studios, ceased operations a mere 52 days post the launch of its Early Access version on Steam.

This long-anticipated game, which had been in development for nearly ten years with backing from both crowdfunding and private investments, quickly deteriorated following a shocking leadership upheaval.

A large dragon in Ashes of Creation — Image courtesy of Intrepid Studios LLC

Leadership Crisis Ignites Studio Collapse

The tumult began when Steven Sharif, the founder, CEO, and Creative Director, announced his resignation on the game’s official Discord channel. In his statement, Sharif expressed his decision to step down “in protest, ” asserting that control of the studio had transitioned to a Board of Directors whose decisions he could not ethically abide.

This revelation was met with immediate skepticism from the community. Public records from California in early 2026 indicated that only Sharif and his husband were listed as directors, leading to questions about the claimed board and fostering accusations of a potential “rug pull” among disgruntled players.

Exodus of Leadership

In the wake of Sharif’s departure, several senior figures at Intrepid Studios quickly followed suit, including the Director of Communications and Marketing, Margaret Krohn. Just days later, the studio issued mandatory WARN Act notices, announcing a permanent closure and the layoffs of over 200 developers.

Internal leaks revealed that the studio was grappling with dire financial issues, struggling to meet payroll despite Ashes of Creation reportedly selling between 250, 000 and 300, 000 copies at a price of $49.99 following its Early Access launch on December 11, 2025.

Backlash and Fallout

The abrupt collapse incited a fierce backlash from players, many of whom had purchased the game just weeks prior. In response, thousands took to Steam to petition for refunds, claiming that the project had been forsaken under extraordinary circumstances shortly after its launch.

The incident has reignited discussions around the original 2017 Kickstarter campaign, which successfully raised over $3.2 million. At that time, Sharif assured backers that they would receive refunds if the game did not launch. While Ashes of Creation technically entered Early Access, critics argue that the studio’s swift downfall tarnishes the essence of this promise.

As of February 1, 2026, Intrepid Studios is effectively defunct. Although game servers remained online briefly following the layoffs, the absence of a functional staff casts a shadow over the future of Ashes of Creation, with many players fearing a complete shutdown is imminent.

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