I have the feeling I could make the process more efficient so let me know where I screwed up.
Control: 5470
CP: 649
Medicine: Cunning Craftsman's Tisane (HQ)
Now, I don't have a lot of time because I'm on my lunch break. What I am going to do is copy the press release from the corporate website. Why? Because with Operation Avalon, the game officially is in alpha. Not pre-Alpha like Star Citizen has been in for the past 13 years. An honest-to-goodness alpha. I want to mark down the occasion on the blog. Besides, I was in Las Vegas back in 2018 when Project Nova crash and burned at its public debut. I'd like to post something positive about a Fenris FPS game for a change.
LONDON, England – July 7, 2026 – Today, Fenris Creations launched Operation Avalon, the first time-limited Alpha playtest for EVE Vanguard, the in-development extraction-adventure FPS connected to the iconic sci-fi MMO EVE Online. Available to access for free from now until July 20 on Steam and the EVE Launcher, Operation Avalon brings EVE Vanguard’s core experience into sharper focus, with more responsive combat, expanded enemies, higher-pressure extraction, deeper progression, and escalating risks and rewards the longer players stay deployed. The further Warclones push, the harder the planet pushes back.
Watch the EVE Vanguard: Operation Avalon launch trailer here:
For a deeper look at what players can expect from Operation Avalon, including the goals of the Alpha playtest, watch the briefing here:
Set on the hostile planets of New Eden, EVE Vanguard casts players as brutal Warclones, technologically immortal mercenaries who can be redeployed after death. In Operation Avalon, players drop onto dangerous planetary battlefields to raid enemy sites, gather valuable technology and intelligence, fight rival players and hostile forces, then extract before the situation turns against them. What they recover helps fuel longer-term Warclone progression and supports the fight to establish Avalon, a future sanctuary for Warclones beyond the reach of New Eden’s empires, while the intelligence uncovered on the surface begins to influence the wider conflict unfolding across New Eden.“Operation Avalon is the moment EVE Vanguard starts to feel like itself,” said Scott Davis, Game Director for EVE Vanguard. “You drop in with a plan, the planet pushes back, and suddenly you’re deciding whether to run for extraction or push your luck and risk losing what you’re carrying. That tension is the game. We want players to feel powerful, vulnerable, and very aware that every choice on the ground has consequences.”“Operation Avalon is a critical step for EVE Vanguard because it marks our move from experimentation into a more focused Alpha phase,” said Snorri, Executive Producer for EVE Vanguard. “The long pre-alpha period has given us the time to refine and battle-test the foundations of the game. With Operation Avalon, players will experience EVE Vanguard as it was always meant to be: a more complete, cohesive vision where Warclones fight to build Avalon and influence the wider conflict unfolding across New Eden. We’ll continue to evolve that vision together with our players as we head toward persistent 24/7 Alpha later this year.”Operation Avalon introduces:
- Lost Convoy Map: Deploy into Lost Convoy, a planetary combat zone set around an Upwell salvage recovery site, where wrecked ships, dig sites, and refineries create high-value targets to raid.
- Overhauled Gunplay and Weapons: Gunplay has been rebuilt to make weapons feel heavier, clearer, and more responsive in combat. Players can earn, manufacture, buy, and deploy with five additional weapons, including a bolt carbine, laser pulse DMR, beam rifle, scatter cannon, and slug launcher.
- Revamped Enemy Response: Mordu’s Legion now escalates its response as players move through key sites, sending in smarter patrols, drones, marksmen, troop drops, and imposing Heavy Oppressors. The deeper players push into contested sites, the harder it becomes to survive and extract.
- Harmonic Bridge Extraction: Recover equipment and resources through Harmonic Bridges, extraction points that must be found and activated during a deployment, burning the Warclone out of the battlefield in the process. Orbital bombardments shut them down over time, leaving fewer ways out the longer players stay.
- Resource Gathering and Permanent Progression: Operation Avalon expands the ways players build strength between deployments. Gather resources, earn Deathmarks, unlock blueprints, use vendors, manufacture equipment, and develop longer-term progression that persists beyond what is carried into a single deployment.
- Refined Looting: Looting now creates greater tension, with items revealed over time as players search enemies, containers, and sites. Choosing when to keep searching, when to move, and when to extract can be the difference between building your arsenal and leaving empty-handed.
- Fueling Platform Raid: Track down a Mordu’s Legion Reserve Leader, recover a keycode, and unlock the Fueling Station. Inside, players face a tougher combat encounter with some of the strongest rewards available in the deployment.
- A Wider War Across New Eden: Operation Avalon begins connecting Warclone deployments with the wider EVE Universe. In EVE Vanguard, Warclones fight to recover valuable resources and intelligence in support of Avalon’s future from the surface. In EVE Online, capsuleers can hunt roaming convoys, secure Vanguard Tokens, and exchange them within their empire’s space to influence where Avalon will ultimately be established.
The battle for Avalon has begun. Boots are already on the ground, and extraction is not guaranteed. For every Warclone deployed to the surface, the rule is simple: adapt, or die. Operation Avalon runs now through July 20, 2026, on Steam and the EVE Launcher. In November 2026, EVE Vanguard will move into persistent 24/7 Alpha access, available exclusively via the EVE Launcher on PC.
I took a little break over the Independence Day weekend. Not the entire weekend because I did need to play a little for blogging purposes. Then I started flying my old love, the Rifter. I did finish up in Exordium and maybe got a little carried away, working on another EVE project: making PvE fits for heavy assault cruisers. Eventually I want to make one for each NPC empire. My new thumbnail for EVE posts is a little bit of foreshadowing.![]() |
| Online activity declining after the launch of CoW |
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| A pause in PLEX sales |
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| Statistics halfway through 2026 |
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| The Vagabond is a blitzing beast |
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| Not exactly the way the devs imagined riding a Vagabond |
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| Cash shop sales up 52.9% over the average from 2022-2025 |
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| Q2 cash shop sales up 75.5% compared to the previous 3-year average |
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| New account creation still grew by 12.7% |
I have to admit that over the last week or so work has gotten a little hectic and I haven't played a lot of video games, much less EVE Online. I've also spent what turned into a significant part of my free time going down the AI rabbit hole, mostly related to EVE content. Is my current run of playing EVE steadily, now approaching the end of month 7, slowing down?
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| Average and peak concurrency - 23-29 June 2026 |
I'm not the only one slowing down. Last week the average number of accounts logged in at any one time dropped down to 25,000 +/- 500 accounts. An expected decline after the launch of Cradle of War a couple of weeks ago and still at the average number for the first five months of the year. I'm really interested to see if the summer slow down begins in July or somehow is delayed until August.
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| The Global PLEX Markt |
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| My newest and oldest characters having a beer |
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| Output from my global PLEX market scripts |
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| A Sacrilege fit created by Gemini |
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| The Minmatar Ship Tree |
"You are a baby turtle on a beach... except there is no sea and the gulls have guns. Run."
I'm a bit behind due to a real life power outage, but EVE Frontier launched its Cycle 6: Sanctuary yesterday. The game is progressing past the point I'll play when the game finally launches. I'll have to see if the game swings back to a point where I think I can play further down the line. Indeed, the way the game is evolving has me hesitant to go beyond the new player experience because I just don't have the time to play.
I still follow development of the game because I think what the team over at Fenris is doing, while very niche, is fascinating. Over the next couple of weeks I want to jump into Frontier and run through the starter system once again. Every time is a new experience.
In keeping with Google DeepMind's investment in Fenris, I plan to keep up with the game by taking the patch notes and dev blog for each cycle and running them through Gemini. But first I want to make a couple of comments about things I like or don't like.
1. The change in the free trial - I think the Frontier team is getting a little more confident in the stability of the game world. The change now means new players can drop in at anytime instead of at designated times.
2. Modular ship building - The initial release of modular ship building is the feature that really has me interested in logging into Cycle 6. Plus, I always wanted a crafting ship in EVE Online.
3. No more logging off to safety - This is the feature that makes me hesitant to log into Cycle 6. My compromise, at least at first, will be to just stay in the starter system.
4. Testing crypto - The fuel-based economy feature is introducing a test version of Frontier's crypto currency. For those who are allergic to crypto.
5. Evolving ecology - One of the things I found intriguing about games like Everquest Next was the idea of NPCs running around doing things even if no players were around. I think we begin to see this implemented in Cycle 6.
6. A more robust starting area - Between the new starter systems in Frontier and the introduction of Exordium in Online I'm beginning to think some development theories are showing up in both games.
Now that I've had my say, here's what Gemini pulled from the patch notes and dev blog:
Instead of flying predefined, static ships, the old fitting system has been completely reworked.
The Concept: You now manage a single modular ship built from a "catalog of modules." Your ship's purpose (industry, combat, exploration, or logistics) depends entirely on which parts you piece together.
On-Board Crafting: You can now install modules like mini-printers and material processors directly onto your vessel, essentially turning your ship into a mobile, flying manufacturing facility.
Rebuilt Energy System: Fuel is now the definitive lifeblood of your ship. It flows linearly: Fuel → Generators → Power → Consumers. If you run out of fuel, you sit idle until you are destroyed, though modules now have battery capacities to give you a temporary buffer.
Thrust-Based Physics: Top speed limits are gone. The game has transitioned to a thrust-and-torque-based model where acceleration and your ship’s structural ability to handle the forces of turning dictate how fast you can go without tearing the vessel apart.
Space is no longer a passive backdrop—it actively tries to kill you. Safety is no longer free.
Stellar Heat: The system star radiates active environmental heat. The longer you stay in open space, the more your heat rises. You have to actively break line-of-sight by hiding behind wrecks, space rocks, and structures to cool down.
Feralization: A new threat type called Feral Drones lurk in shadows. If they get close, they apply a "Feralization" status effect that can corrupt and sever the connection to your pilot shell without even needing to blow up your ship.
No More Safe Log-offs: When you log off, your ship stays floating out in space. Furthermore, NPC station doors are closed—you can no longer dock there for infinite safety. To survive, players must build a Refuge (a dockable shelter) to protect themselves and their gear between sessions.
Sanctuary brings the core economy loop online. Players can exchange LUX for a test version of $EVE to acquire Mining Lenses. You then use these lenses to extract Crude Matter from rifts and refine it into the vital Fuel required to run ships, bases, and infrastructure.
Allotrope Clade Drones: New evolutionary feral drones (Mycena and Dermestid) have been introduced. The Mycena scavenges materials and builds a stationary, vulnerable Chrysalis. If left alone, it consumes resources and hatches into a highly dangerous, ranged combatant (the Dermestid). Players have to choose whether to destroy the chrysalis early or let it hatch for potentially rarer loot.
Conservator Rebalance: Existing Conservator drones have had their total health/shields lowered but their damage significantly boosted, making combat encounters much faster and more lethal.
The Creche: Everyone now spawns (and respawns upon death) in a starting zone called the Creche until they manage to build a Refuge home. It acts as a baseline area to learn to scavenge, salvage, and craft your first crude survival tool—the Skillshot Cutting Laser (a free-aiming, non-target-locked multi-tool used for mining, salvaging, and basic defense).
Contextual Tutorials: The game has abandoned linear hand-holding. Tutorial pop-ups will now only contextually surface guide prompts the exact moment you discover a new mechanic or resource out in the sandbox.
Five-Day Free Trial: A new 5-day free trial system is live. Anyone can register, download the launcher, and play for 5 days from character creation before needing Founder Access.
Visuals: 3D animated character models and Shell sheets are now fully rendered inside the game client.
Tribes: Players can now form Tribes natively while out in space without needing to dock at a station first.
One of the benefits of owning an independent blog is the ability to go back and update stories I find interesting. The fall of the stock price of Pearl Abyss following the managerial buyout of CCP Games/Fenris Creations is one of those stories. When I last looked on 22 May Pearl Abyss stock had fallen to ₩46,050, the target price set by the analysts at JPMorgan. How has the price moved since then?
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| The price continued to slide |
The price continued to fall. By the close of the KOSDAQ on Friday 5 June the stock had dropped another 12% down to ₩40,500 a share. On the following Monday the price crashed through ₩40,000 a share in afterhours trading over the weekend to open at ₩37,700. On Tuesday Pearl Abyss announced three measures designed to stabilize the stock price.
The first was the establishment of the company's first-ever annual cash dividend policy (the greater of ₩10 billion ($6.5 million) or 10% of net profit).
Next came the retirement of roughly 1.4 million treasury shares (representing 50% of its holdings) three days later on Friday, June 12. When a company "retires" treasury shares, it permanently deletes them. These shares vanish from the books and Pearl Abyss can never reissue or resell them on the open market. By permanently shrinking the total pool of outstanding stock, Pearl Abyss structurally locked in a higher ownership percentage for every remaining shareholder and theoretically eliminated future dilution risk.
The third measure reinforced the retirement of the treasury shares. The company hired Korea Investment & Securities Co., Ltd to institute a buyback of ₩100 billion ($64.7 million) worth of Pearl Abyss shares. The buyback program is scheduled to last until December 2026.
At first the buyback worked as intended by creating a psychological price floor. The buyback news triggered a short-term rally, lifting the share price back up to ₩41,150 by the end of the trading day on 12 June.
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| Timeline of the price drop |
But Pearl Abyss' plan didn't work as intended. Instead of jumping back in to purchase under-valued stock, institutional investors used the guaranteed buying volume from Korea Investment & Securities as a convenient exit door. They dumped their shares right into the company's own bids. Once the temporary buying window closed, the stock resumed its fall in value.
And this is coming on today's article in GameRant that after three months user counts on Steam are down 95% from its all-time peak. So despite announcing Crimson Desert had reached 6 million units sold on 12 June, the rice has dropped another 12% over the past 12 calendar days.
The story of the fall of the stock price of Pearl Abyss began with the news of the sell-off of CCP Games (now Fenris Creations) on 29 April. The sales of Crimson Desert, now up to 6 million units, are now baked into the historic revenue calculations. MassivelyOP has noted that any meaningful DLC or major platform expansions for Crimson Desert are mapped out 1 to 2 years away. The next new game in the pipeline, DokeV, is 2-3 years away. Until the new content hits the market, Pearl Abyss needs to depend on the Black Desert franchise for the majority of its revenue for a significant amount of time.
I did get a quote from Gemini I liked about the near-to-mid term future of Pearl Abyss:
By divesting the steady, boring, predictable live-service subscription engine of EVE Online right at this moment, Pearl Abyss successfully turned themselves into a "pure-play" console/premium developer. The problem? The market hates gaps. Investors looked at the 2026–2028 pipeline, saw a multi-year structural drought where Black Desert has to carry the entire corporate overhead alone, and cleared out.
Whether that analysis is correct remains to be seen. But what is indisputable is that since the news of the departure of Fenris Creations from the Pearl Abyss family the stock price of PA's stock has declined 39.4%.
I'm still in the fascination phase with EVE Online's summer expansion, Cradle of War. But the honeymoon is beginning to wear off as I feel myself drawn to completing some blogging research tasks. Some of these tasks have taken hours even with the assistance of AI, as I had to QA the output.
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| For the week of 15-21 June 2026 |
I think I'm not the only one who's attention is wondering. EVE-Offline.net showed last week the average number of accounts logged in at any one time remained at 26,000 +/- 500 accounts. But in the middle of the week the line reached 27,000 accounts before returning to 26,000 over the weekend.
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| Price and sales volume on the global PLEX market |
The price of PLEX remained constant, with the average daily price falling less than 1% over the course of the week. The volume of PLEX sold did spike, thanks in part to a big 25% off sale in the EVE Store which is ongoing until 28 June. Expect a lot of activity on the global PLEX market in the next 5-7 days as today Fenris announced a 25% off Omega time sale in the in-game New Eden Store. This means that for the next 5 days, one can spend $93.75 for 3000 PLEX, spend 2700 to get one year of Omega gametime, and have 300 PLEX left over. Plus, I hear the SKINs that come with the sale in the online store look pretty good. EVE for $7.81/month compared to the $20/month standard for one month at a time or $144/year ($12/month) the company usually charges for a year is kind of insane.
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| Supply of PLEX on sell orders, approximately 1 hour after downtime |
Over the weekend I heard about Cloud Imperium Games sending out invitations to a private event in Manchester on the weekend of 9-11 October. One of the major Star Citizen content creators, BoredGamer, released a video explaining the situation. Since he is going to the event, I'm going to consider that confirmation of the original Reddit post.
According to the Reddit post, a curated guest list of European, US, and Australian content creators, specialized gaming media, and a select handful of long-term original backers received invitations. Instead of showing off stage demos and heavily polished vertical slices, CIG plans to give attendees exclusive, hands on gameplay at the event. CIG also plans to make the core development team available for face-to-face interactions as well as present an unrestricted look at the current state of the single-player campaign.
I have to put in my two cents. I know that people on Reddit were excited because the invitation included "Launches 2026", but unless I hear about CIG obtaining a publisher in the People's Republic of China, I don't see the game launching this year. Especially since Grand Theft Auto VI is still on track to release on 19 November 2026 with pre-orders beginning on Thursday.
Instead, I see the event as a kickoff to marketing the game to people outside the Star Citizen community. My big prediction is the announcement that CIG will sell the game on Steam and that players can begin pre-ordering Squadron 42 at that time on both Steam and the traditional RSI website. Since I am assuming a Steam launch, CIG would need to follow Steam's policies. These policies include having a "Coming Soon" page up for a minimum of two weeks before buyers can press they buy button. Steam also requires a build review to ensure the game boots up properly and doesn't contain malicious files.
These Steam requirements explicitly details that Valve requires 3-5 business days to review the store page and a separate 5 business days to review the actual game build. I really don't see CIG setting things up ahead of time and stepping on their big announcement. CIG probably will also want to avoid the launch of GTA VI so I imagine a launch window of June or July 2027 would work well in also meeting all of Valve's requirements to list the game on Steam.
Pushing the release back until the summer of 2027 would also give CIG to set up relationships in the People's Republic. CIG is not a company like Fenris Creations. FC set up a physical presence in Shanghai in 2005 and began operating EVE Online in the country during the summer of 2006. Not only does CIG need a Chinese partner to sell the game in China, but an influential one like TenCent or NetEase is almost a must for a billion dollar game like Squadron 42.
The timeline from obtaining a Chinese publisher to publishing the game could take 6-9 months in a best case scenario. If CIG uses the event in Manchester to secure a Chinese publisher with a feature-complete build, delaying the global launch of Squadron 42 to the summer of 2027 isn't just a move to avoid competing with GTA VI. Those 9-10 months is practically the minimum amount of time legally and operationally required to get a game approved by China's National Press and Publication Administration.
So will CIG release Squadron 42 at the special event in Manchester in October. I highly doubt it. But will the event act as the springboard for the effort to market Cloud Imperium's first game. All signs point to yes.