Unannounced UE5 Warhammer RPG was canceled last year, report claims

It has been reported that an unannounced Warhammer RPG was scrapped by remote RPG studio Thought Pennies near the end of 2024, resulting in layoffs.
The details:
As reported by MP1st, LinkedIn profiles of former Thought Pennies employees state that the studio was working on an unnamed Warhammer RPG built in Unreal Engine 5. The game was described as a live-service, cooperative PvE action RPG with a "cast of unique heroes and playstyles" and "monstrous enemies set in a dark fantasy world." The title is thought to have been in development since at least 2022, though it may have been in the works for even longer.
Thought Pennies CCO Daniel Erickson announced on LinkedIn in November that the studio was forced to lay off an undisclosed number of employees after Games Workshop pulled out of the deal, leaving the Warhammer project without funding.
Following the release of the highly anticipated Warhammer 40k: Space Marine 2 last year, Games Workshop CEO Kevin Rountree stated in a recent earnings report that the company was "looking for the next one." It's unclear why the company decided to pull funding from the Thought Pennies-led project, but given that Warhammer 40,000: Mechanicus II is still in the works at Bulwark Studios, Games Workshop may be leaning toward the sci-fi, 40k side of the IP rather than the traditional fantasy Warhammer setting.
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