Shadow Hearts series creator Matsuzo Machida recently provided an update on Penny Blood, the gothic horror JRPG his studio crowdfunded in 2022 as a spiritual successor. This follows last week’s announcement that Armed Fantasia – another game from the same “Double Kickstarter” campaign – was cancelled by its publisher.
Regarding Penny Blood, which is being co-developed by Machida’s Studio Wildrose and Shade, the project has not yet secured a publisher. Machida attributes this to challenging conditions in the gaming industry. Despite this, his team remains determined to complete Penny Blood and develop the new intellectual property. As part of these efforts, the studio is currently working on a new novel adaptation titled Penny Blood REVIOLENCE (unofficial translation) to support the game’s production and raise awareness of the IP.
That’s all the information Machida could share at this time. He apologized, noting that his team cannot provide further details about the crowdfunding campaign as there are no new official updates to disclose.
Although Penny Blood’s crowdfunding campaign was highly successful, reaching its target and multiple stretch goals within days, the project stalled due to disputes between Studio Wildrose and the campaign’s producers – Ben Judd and Dangen Entertainment. In a lawsuit filed in May 2024, Machida claimed that the publisher withheld development funds raised through the Kickstarter.
Since then, the developers have been searching for a new publisher while funding the project themselves, though they have had limited success so far. Nonetheless, backers and fans of Shadow Hearts can take comfort in knowing that Studio Wildrose remains committed to the project.
Meanwhile, a roguelike spin-off game that serves as a prequel to Penny Blood – Penny Blood: Hellbound – is available on PC (Steam).