Pearl Abyss Stock Down 13% Since The Divestment Of CCP Games/Fenris Creations

I think a lot of people think that now that CCP Games purchased its freedom from Pearl Abyss and changed its name to Fenris Creations I don't have to worry about Pearl Abyss financial reports anymore. Wrong. I need to see if the company line coming out of Anyang that CCP was dragging down Pearl Abyss is true.

How can I do that? One way is looking at the stock price of the South Korean game maker. If divesting itself of CCP/Fenris was a good move, investors should reward the move by buying up stock. If the move is bad then the price should decline.

Through the first 5 trading days since the buyout was first noticed the price of Pearl Abyss shares on the KOSDAQ has declined 13%. Friday's trading was neutral so the decline actually occurred over 4 trading days. I wonder if the price will continue to decline as the EVE IP brought in 26.2% of all gaming revenue for Pearl Abyss in 2025. And please note I used the $65.2 million figure from the investor calls, not the over $70 million figure claimed in the press release from Fenris.

For those wondering, in 2019 the gaming revenue percentage was only 10.5%, showing the EVE IP had become an increasingly important source of revenue generation over the previous 7 years.

Of course, I still need to follow other sources of information. Pearl Abyss should hold its next earnings call covering Q1 2026 next week. I am also waiting on the latest financial filings with Skatturinn (Iceland Revenue and Customs) which should provide a lot of information. I have a suspicion the documents will be filed later than usual as the section covering future expectations might need some revision. Also, some old familiar faces are showing up besides Birgir Már Ragnarsson, the chairman of the board of Fenris. I need to update my notes with the latest on those as well.

CCP Games Rebrands To Fenris Creations

Shortly after I posted my article about the 23rd anniversary of EVE Online CCP Games announced they were no longer CCP Games.

REYKJAVÍK, Iceland – May 6, 2026 – The company formerly known as CCP Games today announced that it will become an independent entity operating under the new name Fenris Creations.

Just a little history about the company now known as Fenris Creations. The company was founded in 1997 as Loki Multimedia and stayed that way until the name was changed to Crowd Control Productions in I believe 1999. For those into Norse mythology, Loki was the father of the wolf Fenrir. Fenris is another name for Fenrir although apparently the alternate name doesn't come from Old Norse.

Fenris Creations is now governed by its own Board of Directors, returning to a model similar to how the company operated before 2018, and one designed to support strategic decision-making for persistent live games and long-running virtual worlds. The ownership group comprises Fenris Creations’ senior management and long-term investors aligned with the company’s future as a developer, publisher, and operator of player-driven online experiences. As disclosed in Pearl Abyss’ regulatory filings, the transaction value is $120 million USD, with consideration comprising both cash and non-cash elements.

I don't think people have pointed out the "non-cash elements" of the transaction. Did Pearl Abyss receive shares in Fenris? Or is the publishing and marketing organization CCP merged into Pearl Abyss remaining with the South Korean company? One of the many questions I have about the transaction.

The change reflects a shift in ownership and governance only. Fenris Creations will continue to operate as a standalone studio, responsible for its strategy, operations, and creative direction. Fenris Creations’ leadership team, studios, products, and ongoing development plans remain unchanged, with the same people who have guided the EVE universe for many years continuing to lead the company.

This section leads me to believe Pearl Abyss didn't get the Shanghai office. And as a stray note explains why Fenris uses NetEase as its Chinese publishing partner and Pearl Abyss uses Tencent.

Alongside this transition, Fenris Creations is entering into a research partnership with Google DeepMind, focused on advancing understanding of intelligence in complex, dynamic systems. The collaboration will explore areas including long-horizon planning, memory, and continual learning, using EVE Online as a uniquely rich environment for study. Google DeepMind will work with an offline version of EVE Online running on a local server to test and evaluate models in a controlled setting. Together, the partnership will also explore new gameplay experiences enabled by these technologies.

Google has invested in Fenris Creations as part of this transition, taking a minority stake in the company.

Google DeepMind seems a fitting partner considering the direction the company has headed in the past 4-5 years. The AI studio has involved itself with games, producing AlphaGo, the first computer program to defeat a Go champion. But looking on Wikipedia I see an application designed to run data centers efficiently. Fenris has a long history of being involved in data centers in Iceland. If the off-line servers Google DeepMind plans to use to simulate EVE are located in Iceland, Alphabet may gain first hand experience with geo-thermal powered data centers.

I should note that Google is now a part-owner of Fenris Creations. I haven't seen a credible source stating how big the stake actually is. Sorry Reddit, but you don't count. Another question to wait on financial filings with the Icelandic taxing authority.

“EVE is built to endure - and it only works if you’re willing to keep pushing into the future. This transition gives us direct ownership, clear accountability, and the independence to invest in worlds that grow over decades,” said Hilmar Veigar Pétursson, CEO of Fenris Creations. “We’re grateful to Pearl Abyss for their partnership and for the consistent support they’ve shown us over the past seven and a half years. EVE Online exists today because of pioneering thinking, patience, and trust between developers and players. Our new structure and partners enable us to carry that legacy forward - continuously evolving a living universe and actively exploring what it can become, with forever in mind.”

Hearing from Hilmar is pretty standard by this time for those who have covered the company for a few years. But the next block is from someone new.

“Games have always been a huge part of my life - I’ve been a gamer since I was a kid, and I started my career designing and programming complex AI simulation games like Theme Park. They’ve also been at the heart of many of Google DeepMind’s breakthroughs - like Atari DQN, AlphaGo, AlphaStar and SIMA - because they’re the perfect training ground for developing and testing AI algorithms,” said Demis Hassabis, co-founder and CEO Google DeepMind. “I’ve known Hilmar for many years and long admired his work, and I’m thrilled to partner with him and the fantastic team at Fenris Creations to explore new gaming experiences and advance AI research safely inside a player-driven universe as amazingly complex as EVE Online.”

I never thought I'd quote a bible verse in relation to Hilmar, but familiarity breeds contempt. Apparently while people were wondering about Hilmar running around the world acting like a thought leader, he actually was a thought leader. If the co-founder of DeepMind has followed Hilmar, then the Icelandic game executive gains a bit of geek cred.

“I’ve followed CCP’s progress closely over the past several years and have great respect for what the company has achieved,” said Birgir Már Ragnarsson, Co-founder and Partner at Omega Ventures, and Chairman of the Board at Fenris Creations. “As Chairman, I’ve seen firsthand how this company performs when its leadership is set up to focus and execute. We’re entering this next phase from a position of strength, with experienced leadership and strong partners in place. I’m looking forward to playing a part in that journey and supporting Fenris Creations as it continues to make history.”

When I saw Birgir was involved as the new Chairman of the Board, I knew Hilmar was getting the old gang back together. From reviewing all the tax forms submitted to the Icelandic taxing authority plus Birgir's LinkedIn page, he first became involved with CCP Games back in 2005 when he was named to the board of directors. He first appeared on paperwork as the Chairman of the Board in 2013 and was the chairman when the company was acquired in 2018. I can't wait to find out who else is on the board.

"For employees and the local community in Iceland, Fenris Creations emphasized that this transition does not involve restructuring or layoffs. There are no planned changes to the company’s organizational structure, and its headquarters will remain in Vatnsmýrin, Iceland. Studios in Reykjavík, London, and Shanghai will continue to operate as they do today."

I usually don't believe this talk of no job losses. But in this case I wonder if the company will need to beef up some departments that were previously merged with Pearl Abyss. At least Pearl Abyss can't make Fenris lay off people if things get bad in South Korea. Let's just say I won't have a lot of faith in Pearl Abyss' game development until they prove they can produce a game on-schedule.

Since 2018, CCP Games and Pearl Abyss have worked closely together while evolving as companies. Following a joint review of long-term strategy, both parties concluded that the company is now best supported through independent ownership as Fenris Creations, while Pearl Abyss continues to focus on the growth of its own core titles and IP portfolio. Broader differences in operating context, current strategic focus, and long-term priorities were among several factors considered in this decision.

This paragraph I believe is a pile of crap. With Pearl Abyss trying to throw Fenris under this bus for its financial difficulties, something tells me not all was peaceful in the relationship.

Fenris Creations enters this next phase with strong momentum across its sci-fi universe. EVE Online closed 2025 with some of its best results in several years, including a record-breaking revenue month in November and a standout Q4 that became the second-highest revenue quarter in the game’s more than 20-year history. The iconic spaceship MMORPG exceeded internal expectations and demonstrates sustained strength as a live service in its third decade of continuous operation. Adding to this strong position are two upcoming titles in development: EVE Vanguard, an extraction-adventure FPS, and EVE Frontier, an online space survival game. The company remains profitable, with over $70M in reported revenue for 2025 and strong reserves, reflecting sustained player engagement and enabling continued investment in the long-term health of the EVE Universe.

The $70 million figure is huge. From following Pearl Abyss' earnings calls through last year, I have Fenris' revenue from games in the EVE IP at $65.2 million. I wonder what happened for the year-over-year revenue growth in 2025 to be twice that reported on the calls. Foreign exchange effects perhaps?

Pearl Abyss and Fenris Creations part ways with mutual respect following a partnership that supported the company’s growth during an important period in its history. Both companies now move forward with clear direction on their respective priorities.

Sorry, but I've followed Pearl Abyss, or at least its leadership, to believe that for a second.

Aream & Co. and Arion Bank are acting as financial advisors to Fenris Creations, and LOGOS is providing legal counsel.

Fenris Creations will continue to communicate openly as it moves forward under this new model, with a clear focus on the future of the EVE universe.

A couple of more pieces of information to look into.

I just have to conclude that the 23rd anniversary of the launching of EVE Online was memorable. But I have one more data point to track: the price of Pearl Abyss stock. The Korean NASDAQ has only had 4 business days since word of Pearl Abyss selling off CCP Games hit the news. But over the last 5 days, the price of the company's stock has fallen nearly 13%. Something to think about as we discuss the transaction.

EVE Online Turns 23 Today

Today is the 23rd anniversary of the launch of EVE Online. The fact a game that began development in the 20th century is still alive and kicking either says something positive about the game or negative about the video game industry. Or perhaps reality is messier and the answer is a combination of the two.

EVE is a massively multiplayer online role playing game (MMORGP) designed at a time when the concept of virtual worlds did not require virtual reality headsets. I went down a rabbit hole and found a description on Wikipedia of a gaming genre into which the venerable space game falls.

The general formula for the space trading and combat game, which has changed little since its genesis, is for the player to begin in a relatively small, outdated ship with little money or status and for the player to gain in status and power through trading, exploration, combat or a mix of different methods. The ship the player controls is generally larger than that in pure space combat simulator. Notable examples of the genre include Elite, the X series, Wing Commander: Privateer, Freelancer, and No Man's Sky.

I know, EVE doesn't seem to fit in with those games. But the majority of those games were developed around the time CCP began developing its next game after Hættuspil, aka Danger Game. Wikipedia continued with the definition of the genre.

All space trading and combat games feature the core gameplay elements of directly controlling the flight of some sort of space vessel, generally armed, and of navigating from one area to another for a variety of reasons. As technology has improved it has been possible to implement a number of extensions to gameplay, such as dynamic economies and cooperative online play. Overall, however, the core gameplay mechanics of the genre have changed little over the years.

The technology has improved part is where CCP Games and EVE Online steps into the picture.

Some more recent games, such as 2003's EVE Online, have expanded the scope of the experience by including thousands of simultaneous online players in what is sometimes referred to as a "living universe" – a dream some have held since the genre's early beginnings. Also with massive battles, Star Citizen, a title in development by Cloud Imperium Games (headed by Chris Roberts, who was involved in Freelancer and Wing Commander), aims to bridge the gap between the EVE-like living universe game and the fast action of other games in the genre. [emphasis mine]

I did get a couple of chuckles out of that last paragraph from Wikipedia. First, thinking of the 20+ year old EVE as a more recent game. The other that the editors of the article decided to lump in Star Citizen with EVE. I'm not exactly sure how the fan bases of both games will take the comparison.

In the past I've used the words of CCP's board of directors to describe the game's past. Expecting a financial report to show up by 6 May every year is a bit much to expect as the Icelandic government doesn't post accounts to the public upon receipt of the paperwork. But the big news that hit a week before EVE's anniversary when word leaked out that CCP's management group was buying CCP Games from Pearl Abyss for $120 million. Did anyone else's thoughts flash back to the early days of EVE when CCP had to buy back the publishing rights to EVE from Simon & Schuster for $150,000?

The main thing I'm thinking about on this anniversary is the recovery the game has made over the past few years.

Through April 2026

In 2022 the daily average of accounts logged onto Tranquility was down to 18,187, the lowest total in over 15 years. Between busted up plans to introduce NFTs and other crypto-game elements to EVE and the following 33% price hike for a month of playtime, the game didn't seem like it would survive another 5 years, much less grow. But the re-introduction of the two expansion a year release cadence while still providing monthly updates has seen that average rise by over one-third over the last four years. If the developers don't commit a horrible mistake or 10 during the next two expansions, EVE is on pace to surpass both the transitions to the Alpha and Omega accounts in 2016-2017 and the lockdown year of 2020. We are potentially looking at the year with the most accounts logged onto Tranquility since 2014. And a few years ago I didn't think I'd ever get the chance to type that last sentence.

But EVE isn't EVE unless CCP Games and its CEO Hilmar are making interesting business decisions. But I have enough confidence in the game's short term outlook I plan on partaking of the current sale to ensure I'm subbed until the 25th anniversary. I'm almost subbed that long now, but I do want to ensure I'm around for that major milestone.

Flying Solo In EVE: Capsuleer Day Event

Tomorrow is the 23rd anniversary of the launch of EVE Online on 6 May 2003. I'm running through the latest 5 week event designed to celebrate the occasion (as well as bring in more money). While today is a little early to expect to see CCP's 2025 tax filings to appear on the Icelandic taxing authority's website, we do have news that Pearl Abyss is selling off CCP Games. So while we wait for Pearl Abyss to schedule the next earnings call here's my weekly look at EVE Online.

A bumpy week on the global PLEX market

The global PLEX market experienced a weekend spike of about 250,000 ISK as the Capsuleer Day event kicked off on Thursday but fell back down to normal by Sunday. We can perhaps attribute the spike to the news of PLEX for Good becoming a permanent fixture in New Eden. I can see the purpose of the move. Instead of PLEX remaining on the books as departing players buy up the secondary currency in case they come back to EVE in a year or three, they are encouraged to just wipe out their accounts. I guess that's one way to ensure the bitter vets don't return.

Last week's ACU and PCU

And of course I look back at player activity using Chribba's EVE-Offline.net. The late surge in accounts logged in to participate in the Capsuleer Day event raised the average concurrent users logged in for the week up to 25,000 +/- 500 accounts. I should also note the peak for the week returned to approximately 1900 UTC on Sunday, indicating the big null sec war involving The Imperium, Init., and WinterCo is probably over. Or at the minimum, the major structure bashing is over.

Selected stats through 3 May

Now for the main event. The Capsuleer Day celebration began on the final day of April and is very much like the previous Gallente election event. To receive Society of Conscious Thought ships this year one must participate in the event, with the Praxis battleship serving as the big prize at the end of the rewards track.

My progress through Monday

I don't have a big desire to get another Praxis but finishing all 5 tiers of an activity results in receiving 500 event points and 10 PLEX. I'm thinking I'll just do the mining and the security missions. Players do get points for trading Warpath Operational Intel for rewards, but I don't know about if PLEX is a reward for completing all 5 tiers of trades.

On the mining. I can say from experience that is a lot of Plagioclase. On the plus side I was still able to mine as late as 1900 UTC on Sunday. I just need about 10 more runs with a Skiff to finish the final tier. I think that's less than 3 hours. Perhaps I'll dual box and put mining boosts on a command ship.

I do have to say I was feeling a little burned out after this weekend. I think the Gallente election and Capsuleer Day events were a little too similar to run back-to-back like this. Also, I'm not a big fan of the time-limited boosters. I'll wind up buying the boosters to get through the rest of the event, but I'm not quite sure I want to do the activities on a second pilot. The rewards just don't feel like they justify the grind. But receiving 95 PLEX for the event and another 5 PLEX for the AIR Daily Rewards on each character might prod me into running through the event twice. I'll have to see how I feel after I get my first 1000 points.

Cloud Imperium Games Cash Shop Revenue Up 42.4% In April 2026

The powerhouse marketing team at Cloud Imperium Games started off the second quarter of 2026 strong, setting a new record for cash shop sales in the month of April. Revenue increased by 42.4% compared to April 2025, reaching nearly $11.3 million last month. For the year so far, cash shop sales for the first four months of 2026 reached $38.7 million, a year-over-year increase of 15.8%

The $967.8 million displayed on the Roberts Space Industries funding page at the end of March was not a comprehensive accounting for all of CIG's revenue since the project's Kickstarter in October 2012. Overall, the company has recorded $1,092.2 million ($1.09 billion) in confirmed revenue (the funding page & the 2023 financial report).

• Sales/Pledges: $967.8 million (through 30 April 2026)
• Other cash shop revenue: $2.3 million (through 31 December 2023)
• Subscriptions: $39.5 million (through 31 December 2023)
• All other sources: $82.6 million (through 31 December 2023)

In addition, the company has received a total of $68.25 million in outside investment. According to the 2023 financial report, $4.8 million of the amount was returned to investors in 2020 and another $1.9 million in 2023. Including the outside investment money, the total amount raised by CIG to create Squadron 42 and Star Citizen is $1.160.5 million ($1.16 billion), or $1.153.8 million ($1.15 billion) when excluding the returned funds. An additional $12.6 million in loans issued in March 2025 and due for repayment on 31 December 2027 are not included in the total.

With marketing activity advertising Squadron 42 picking up I'd wager a lot of people want to see the amount of accounts created each month grow. In April, the amount grew by 62.9% year-over-year up to 90,115. The big YoY increases should end in a couple of months but until then new account creation will run wild. Through the first four months of 2026 new account creation is up 96.7%

What to watch for in May: The cash shop will probably experience a new monthly sales record next month. The traditional May sale, Invictus, is being replaced by one sponsored by Drake. If the sale brings in over 10% in increased sales the record of $31,938,644 set in November 2025 will fall.

Also, will CIG announce a publishing partner for China? Without one, Squadron 42 cannot launch in the People's Republic.

Finally, will CIG publish its 2024 global financial report? The 2023 report was released on 2 May 2025. As of the time I finish this post CIG still has not published anything.

Pearl Abyss Sells CCP Games To CCP's Management Group

What was rumored in June 2025 finally came to pass on the final day of April 2026. Pearl Abyss sold off CCP Games to its current management team for $120 million (₩177.1 billion). Pearl Abyss announced the acquisition in September 2018 with the deal finalizing the following month. While the final total of the deal was $225 million and not the $425 million originally reported, Pearl Abyss' spending spree following its 2017 IPO may not have been totally wise.

While the numbers from 2026 are not known at this time, in the years 2019 to 2025 CCP Games generated approximately $412 million in revenue for Pearl Abyss. But revenue does not equal profits and by 2022 Pearl Abyss was seeing red numbers in its books. In the past four years Pearl Abyss posed net losses two times and operating losses the past three years. A Korean outlet provided the following information from Pearl Abyss:

CCP Games is an Iceland-based developer with a proven track record, having successfully serviced its flagship space-themed sci-fi game, 'EVE Online,' for over 20 years. Pearl Abyss acquired the company in 2018 with the goal of diversifying its portfolio and securing global IP.

However, persistent operating losses at CCP Games following the acquisition have placed a significant burden on Pearl Abyss' financial structure.

Consequently, analysts and industry experts view this sale as a highly positive signal. By shedding a loss-making subsidiary that had negatively impacted Pearl Abyss' consolidated financial statements for years, the company has resolved a key source of uncertainty. Having shed this financial weight, Pearl Abyss can now actively invest the substantial capital secured from the sale into the development and marketing of new IP.

Regarding the valuation of the sale, Pearl Abyss stated that the price was "determined objectively by comprehensively considering CCP Games' current business structure and market conditions."

I have to admit to a bias. After listening to Pearl Abyss' leadership evade, mislead, misdirect, and the unkind would say lie, about the state of Crimson Desert on the quarterly earnings calls over the last 5 years, I have about as much trust for what Pearl Abyss states as the investment analysts on those calls. Which is not much. If the investment analysts trusted Pearl Abyss we wouldn't have seen the company's stock drop 36.6% of its value in the two days following the release of Crimson Desert upon the early reviews of the state of the game.

Did Pearl Abyss Iceland, the holding company controlling CCP Games for Pearl Abyss, post losses every year? If I recall correctly, the answer is yes. But did the home office in Anyang contribute to the mess?

Let's go back to Crimson Desert. The game was originally supposed to launch in the final three months of 2021, not the first three months of 2026. Imagine what the profits would look like if a game launched every three years beginning in Q4 2021. With DokeV launching in either Q4 2024 or Q1 2025 the company probably doesn't experience any losses, whether net or operational.

Finally, what about Pearl Abyss' revenue from its cash cow, Black Desert? At the same time delays in launching Crimson Desert kept new revenue from arriving, the problems experienced by the Black Desert IP, particularly Black Desert Mobile, led to a 55% decrease in revenue from 2019 to 2024. Pearl Abyss was no longer pulling in the cash to fund any plans discussed at the time of the acquisition in 2018. While CCP Games revenue gains were the equivalent of finding coins between the cushions, the Black Desert revenue loss during that time exceeded the amount of money Pearl Abyss spent acquiring CCP Games.

Now for the fun part of these exercises: what comes next? Pearl Abyss Iceland and CCP Games usually submit their financial accounts to the Icelandic tax authority on the last day of April or the first two weeks of May. With the change in ownership I'm interested to see if the pattern holds.

Flying Solo In EVE: PLEX For Good Has Changed

The way that PLEX has changed over the last two years has helped drive my latest stint of playing EVE on a regular, almost daily basis. From adding PLEX to the AIR Daily Goals track in the Equinox expansion to the creation of the global PLEX market, the developers changed the way PLEX had worked for years. But before moving on to today's news let's review some of the basic information about New Eden from last week.

Last week activity decreased as expected, with the average number of concurrent users falling to 24,000, plus/minus 500 accounts. We probably will see activity increase again tomorrow with the beginning of the five week Capsuleer Day celebration. Meanwhile, the effects of the big null sec war continue to show up on the EVE-Offline.net user chart. Normally the weekly PCU mark is set on Sundays around 1900 UTC. But once again, the weekly high of 37,069 was hit on Saturday morning as The Imperium shifted its activity to attack WinterCo structures.

Last weekend the price of PLEX came back down to earth with the end of the latest New Eden Store sale. The average price of ISK peaked at just over 5.1 million ISK on the 21st before falling back to below 4.6 million ISK. In the wake of the sale the amount of ISK traded for PLEX fell by 39% last week to 34.6 trillion ISK.

The news today is that a popular recurring feature, PLEX for Good, would become a permanent fixture for the EVE community. The PLEX for Good campaigns would allow players with more ISK than real world money to buy PLEX off the market and then contract the PLEX to CCP. CCP would then convert the PLEX to its real world value and donate the amount to charities to help affected people around the world in need.

Let me use the PLEX for Good: Ukraine campaign as an example. The money raised was given to two organizations: The UN Refugee Agency and the National Bank of Ukraine's Humanitarian Assistance campaign. CCP described how the $500,000 was raised.

You, the amazing Capsuleers of New Eden, proved that kindness and humanity are core values of our EVE community, by contracting PLEX to the in-game character CCP PLEX for GOOD, an account operated by CCP Games. Our developers – who hail from all over the world including Ukraine and Russia – also made numerous donations to PLEX for GOOD themselves, with CCP then matching all total donations for the campaign.

Through the first 17 years the campaigns had raised well over $1 million:

• 2005 - $25,326 – Southeast Asia (tsunami)
• 2010 - $34,350 – Haiti (earthquake)
• 2010 - $38,900 – Pakistan (monsoon)
• 2011 - $44,600 – Japan (earthquake and tsunami)
• 2011 - $32,900 – United States (Hurricane Irene)
• 2013 - $190,890 – Philippines (Typhoon Haiyan)
• 2015 - $103,650 – Nepal (earthquake)
• 2020 - $107,454 - Australia (bushfires)
• 2020 - $135,550 - Global (COVID-19)
• 2022 - $501,652 – Ukraine (war)

The two organizations that will have permanent campaigns set up are Players vs. Cancer and ICE-SAR (Icelandic Search and Rescue).

Players vs. Cancer (PvC) brings gamers and streamers together to raise awareness and funds for lifesaving cancer research with a shared goal of ending cancer once and for all. Their fundraising efforts benefit the AACR (American Association for Cancer Research). More information on progress made in the last year, and what’s still left to do, can be found in their executive summary.

I have to make a personal note here. Usually the charity I'm most familiar with in Iceland is the giving spare change and bills to the Icelandic Children's Hospital. But I was already a little familiar with how Iceland's Search and Rescue organization worked.

Icelandic Search and Rescue teams are powered by volunteers who answer around 1,800 calls a year and put it all on the line in one of the most hostile landscapes on Earth. They also lend their assistance across the globe, and were among the first foreign rescue teams on the ground following the 2010 earthquake in Haiti, among other things. The whole operation is run on donations and volunteer work. They are looking for new rescue ships now, to go out where no one else will. Your PLEX can help contribute to these new vessels.

The causes are good. But part of why the PLEX for Good campaigns worked is that all PLEX in the game originated from players buying PLEX with real world money. Beginning back in 2024 that began to change. A small 5 PLEX reward was added to the AIR Daily Goals with the Equinox expansion. A year ago CCP spelled out how they were giving out PLEX.

• AIR Daily Goals now include PLEX as a permanent reward, creating a steady stream of accessible PLEX for active players.
• Seasonal events increasingly feature PLEX in their seasonal reward tracks.
• Occasional PLEX gifts mark special milestones and in-game events.
• Mysterious GalNet Crates I and II, featured in Twitch Drops and tradeable on the in-game market, also offer a chance at PLEX.

Perhaps I've played way too long, but part of the previous campaigns was the fact that turning in PLEX was definitely tied to giving up real world value. Someone paid real world money for that PLEX someone was turning in. Now? The connection is in large part broken. How much depends on the view of the observer.

Brian Chambers, Vice President of Game Development, Departs Cloud Imperium Games

Here's a personnel move I did not expect to happen over at Cloud Imperium Games.  Brian Chambers, the Vice President of Game Development, has stepped away from the company.

After 11 amazing years at CIG it’s time for me to step aside and watch from the sidelines.

From starting a new studio in Frankfurt to helping run a Dev team of 800+ across 5 separate time zones, it’s been both challenging and incredibly rewarding.

Time for an overdue break then…

— Brian Chambers (@ChambersArt) April 26, 2026

I'm not really sure how to view the departure of Chambers from CIG.  Chambers was one of a group of former Crytek developers who left the company to work for CIG. He founded the Frankfurt office of Foundry 42, the studio that primarily worked on Squadron 42 back in 2015. From the Star Citizen Wiki, Chambers became primarily focused on Squadron 42 in 2019.

I don't know if this is good news for the release of Squadron 42 or bad. Is the game far enough along in development that such a critical leader in the company can leave without issues arising? Rumors have it we might find out sometime in May.

Final Fantasy XIV's Next Expansion: Evercold

Go forth. Discover.

Unite the stars unto one.

- Final Fantasy XIV: Evercold teaser trailer

The first Final Fantasy XIV Fanfest for this expansion cycle was held in Anaheim this weekend. Judging from the online reactions from people who absolutely hated Dawntrail, popular sentiment about the game may return to highly favorable. Or people may look at the changes, declare them bad and the game in the process of dying. Trying to figure out what the internet judges good and bad is tricky. So instead of predicting the future I'll just put down some initial thoughts.

First, FFXIV's trailer game is back. I thought Dawntrail's expansion trailer was the worst of the game's expansion trailers. Time will tell but the initial portion of Dawntrail may go down in history as an awkward pause as a shift from the original Hydaelyn–Zodiark Saga that ran from A Realm Reborn to patch 6.0 of Endwalker.

The second of the multi-expansion story arcs is the Godless Realms Saga. Forgive me if I'm a bit unclear on whether the saga began with Dawntrail, Dawntrail's post-patches, or begins with the next expansion, Evercold. I've watched the keynote, lots of reactions, and Square Enix' press release and am still puzzled. For now, I am going to base the new saga on the appearance of the interdimensional key the party first runs across in Alexandrea. But as the key is the reason Krile initially travels to Tural one can count to the beginning of the expansion as the beginning of the arc.

I want to address a sore subject with me from Dawntrail. I thought a lot of the Scions made guest appearances that didn't make a lot of sense. Basically, they appeared for fan service purposes and not really to advance the story. If the trailer is any indication players will adventure with three of the main characters. Alphinaud as the healer and Estinien as physical melee DPS seems obvious. I think the third is Krile, the holder of the interdimensional key. We see the key interact with Azem's crystal, symbolizing the connection of the key with the Traveler, which we hear the Warrior of Light referred to as in the trailer.

For Duty Support purposes when advancing through the MSQ, all we are missing is a tank. I imagine we will see a new character appear, one who is the new tank role.

A lot of the reactions from content creators is over the top positive, and not just because the level cap was raised to level 110. For just one example, the game is moving away from Allagan tomestones for equipment upgrades and moving to a system I've heard described as similar to World of Warcraft's Trading Outpost. And that player gear on all jobs will have the item level of that of the best geared job. Oh, and that the player matching system for dungeons, raids, and trials will cover all worlds in a region and not just those in a logical data center. But we won't hear more details until the Fanfest in Berlin in July.

I'll just leave with one final note. At the same time patch 7.5 goes live on Tuesday the free trial will receive an update. The free trial will have the Shadowbringers expansion added. At this point I have to say getting the free trial is worth the effort for those who don't mind story-driven MMORPGs.

Flying Solo In EVE: Setting The Table For Capsuleer Day 2026

I normally highlight these posts with news about EVE Online's global PLEX market. Today's post takes on a little more significance because the creation of the PLEX market is making the storyline for the next Capsuleer Day event in two weeks possible. Or, at least a lot less painful.

But first, let's look at the number of accounts logging into the game.

With the end of the Gallente election players stopped logging in. Last week the average number of concurrent accounts logged in dipped down to 25,000 +/= 500 accounts. The numbers should start rising again once EVE Online's anniversary event draws closer.

The big news on the global PLEX market is the continued increased value of PLEX following the big New Eden Store sale that began on 11 April. The sale ended Tuesday with the average price of PLEX on the market rising 19.6% during that time.

The effect of the sale on the market are seen in the number of sell orders available. I check every day a little after noon UTC and the amount of orders dropped by over 50%. I have the feeling PLEX prices won't drop soon without a sale designed to flood PLEX back onto the market.

One of the benefits to the developers for removing the center of PLEX trading from Jita to a global market is the availability to use Jita in the lore.  All eyes will fall on Jita for the 23rd anniversary of the launch of EVE with what happened at Jita's gates on Tuesday.

Disaster At Gates Surrounding Jita

A catastrophic hyperspace incident has damaged all seven stargates leading into Jita. Spacetime fractures, similar to those witnessed inside Fractured Fields, simultaneously opened around the gates, resulting in significant damage to their structure. The majority of operational staff and maintenance workers stationed on the gates at the time were killed instantly by either the damage done to the gates or the massive burst of radiation released as the fractures formed. Many others were badly injured, and some are expected to begin displaying signs of fatal radiation sickness in the weeks to come. The final death toll is expected to be in the thousands.

The gates remain operational despite their damaged status. The radiation, though initially fatal, has already begun to disperse throughout space. As it disperses, it has already become visible from nearby stars as it moves faster than light through the Drifter Hyperspace Network. At this time, only extreme long-term exposure is likely to result in any negative effects. This does, however, make any immediate repairs impossible. Even repair drones are likely to malfunction after long-term exposure, making it only possible to perform essential operational maintenance at this time.

The Caldari State has placed emergency measures on Jita residents while their investigation into the cause of the incident is underway. These restrictions have put pressure on already busy emergency response teams. Additional support has been accepted from EverMore, who are providing aid from their Paragon Fulfillment Center inside Jita.

I watched Ashterothi's stream and heard that a player evacuation of the system is underway. I'm not sure how big the effort was, or is, but I have the feeling a lot of industrialists don't want to see their goods trapped in an isolated system.

The anniversary event will run from downtime on 30 April to downtime on 2 June.

The War Spreads

Once Capsuleer Day XXIII: Warpath gets underway, on 30 April, you will be able to take on brand-new combat sites throughout highsec and lowsec, similar to Factional Warfare complexes. These will range in difficulty to suit pilots of all experience levels. Fight to defend these complexes against unique adversaries and earn rewards.

In addition, there will be hacking, industry, and mining challenges, a brand new fleet-based capital support site in lowsec, as well as other existing activities that will contribute towards your progress on the seasonal reward track. In short, there will be something for everyone.

The Capsuleer Day activities will be available through the Agency and AIR Opportunities.

I'm also going to guess that the summer expansion will release after the event, so I'm going to guess the expansion will launch on 9 June 2026, giving the developers time to clean up any mess from the event before players experience the next expansion.