Sadly (but not unexpectedly), the Danish game platform for user-generated content, Crey, has filed for bankruptcy.
Best of luck to everybody affected!
It's sad, but hopefully, it's the start of something new. Crossing fingers that the closure can lead to some new and smarter startups with experience in the backpack.
I tried Crey very briefly a few years back, and it honestly didn't feel well-crafted at the time (it might have improved later). In light of competition from juggernauts like Roblox, Fortnite, Minecraft and others operating in the same space, I never observed Crey gaining any meaningful traction compared to the competition.
Moreover, it's a really difficult space. To my knowledge, Roblox is not a profitable company either. BUT! They own a vast chunk of the players.
The Crey main website is still up (not sure if the games are still operational?! probably not?)
All social media links seem to have been taken down.
Crey CEO Janos Flösser was the main man behind Crey, with a very strong history of being the CEO behind the Hitman franchise of IO-Interactive. He has been incredibly good at attracting funding for the project and the investment firm Promentum Capital.
Sadly, this bankruptcy might hurt the local industry in general, as investors might become even more risk-averse if even the former head honcho of IO Interactive couldn't work his magic once again.
I would say it's all about finding the right project and team. It's difficult but not impossible!
Public numbers from Crey Holding ApS, the company owning the production company, seem to indicate that there should still be substantial capital in the company family, 50 million DKK in 2021 numbers. But honestly, I think it's the right call to not go further with a company that never found a sizable audience to run on its own accord after 5 or so years. Or has any realistic means of getting there either. There is no point in investing further if the thing just doesn't work.
https://www.proff.dk/firma/crey-holding ... NVR7QI06Y4
Crey was probably born out of the aspirations from the single-player UGC platform BitGlobe (as I recall, it was started as a side project around IO Interactive). Sadly, BitGlobe never worked either.
And again! BEST OF LUCK to everybody involved!
I wish you all land somewhere good as soon as possible!
Video of Crey
https://www.facebook.com/dkgamedev?__cf ... =-UC%2CP-R