Yesterday we reported that ex-Blizzard startup Red 5 Studios had suffered a round of layoffs. Today the developer issued a press release confirming that this was indeed the case, but also stating that it has secured additional funding from a strategic partner in the online gaming industry.
Red 5 Studios, Inc. is currently working on an unannounced massively multiplayer online game. Recently, the team formed around a new direction and took on additional investment from a strategic partner in the online games industry.

Red 5 remains committed to releasing a AAA quality, online title targeted for a worldwide release. The company has restructured the team in order to accomplish this goal. As part of the restructuring, some team members chose to part ways while others were let go. Red 5 has great respect for these departing team members and the contributions they have made.
Kotaku purports to have an insider scoop which suggests that the company is now focusing on a new project aimed at the Chinese gaming market.

We're wondering what this new project might be like...


Bryn says: If Red 5's concentrating on the Chinese market now, then it's unlikely we'll be playing the new project any time soon. With so much ex-Blizzard talent under the hood, there's a good chance that this new game will be one to watch, although the nature of the project remains a mystery. If you had your way, what kind of MMORPG would you like to see Red 5 make?