In the tragic annals of the gaming world, a somber chapter has been penned today as Ready at Dawn Studios takes its final bow after more than two decades of crafting virtual experiences for platforms such as the PSP and the Meta Quest (formerly known as Oculus Rift). The curtain falls abruptly on this esteemed company, which had been diligently working on the Lone Echo VR series under the auspices of parent company Oculus Studios. News of the closure was first brought to light by Android Central, with former employees confirming the heartbreaking tale on LinkedIn.
The timeless tale of Ready at Dawn began in the year of our Lord 2003, when it was birthed by former members of Naughty Dog, destined to create games for the PSP including the likes of Daxter and God of War: Chains of Olympus. In a bold stroke of creativity, the studio unveiled its first original IP, The Order: 1886, in 2015, a work not universally acclaimed but which has since garnered a unique and fervent following among players. Venturing boldly into the realm of virtual reality, Ready at Dawn presented Lone Echo in 2017, subsequently earning the favor of Oculus Studios. Their final opus, Lone Echo 2, graced the gaming world in 2021, before the studio – alas! – shifted its focus away from Echo VR support to pursue other ventures.
However, the fates were unkind to Ready at Dawn, as they became embroiled in the turbulent seas of corporate restructuring in 2023, swept up in Meta’s sweeping layoffs that reverberated throughout the vast halls of the company, affecting countless souls. As the dust settled, Meta’s quarterly financial report revealed a bleak reality for its AR/VR and metaverse segment, Reality Labs, which reported a staggering $4.49 billion operating loss. A venture plagued by losses over the preceding quarters, Reality Labs has borne witness to a cascade of misfortunes, hemorrhaging approximately $59.5 billion since the dawn of 2019.
In the wake of this tumultuous storm, Meta’s executives convened in an earnings call to set forth their vision for the future. They pledged their unwavering commitment to invest in the expansive realms of Reality Labs, encompassing the realms of virtual reality and beyond. CFO Susan Li heralded the advent of the Quest 3 headset and Meta’s foray into the realm of AR glasses, mapping out a bold trajectory into uncharted territories. Assurances were made that the realm of games development would remain untouched by further upheavals, providing a glimmer of hope amidst the tempest of uncertainty.
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