Neon Machines settles lawsuit with former investors
Neon Machine, the developer and publisher of the Web3 first-person shooter Shrapnel, announced it has settle an investor lawsuit filed in 2023.
Neon said it expects the settlement to be submitted for court approval in due course. By entering into this settlement agreement, Shrapnel looks forward to bringing this matter to a close.
The team is making progress toward delivering its ambitious vision for the game, ecosystem, marketplace, and underlying technology. Shrapnel’s always-on, free-to-play release is slated for Epic Games Store in 2025.
Shrapnel CEO Ken Rosman said in a statement, “We thank our community for their continued support throughout this journey. In this new era of Shrapnel, every decision we make is aimed at creating an exceptional experience for players worldwide. We remain committed to delivering on our ambitions and laser-focused on preparing for launch.”
Mark Long, former CEO of Neon Media, has left the company. The dispute involved a rift between Long and his investors. Those investors put their money into Neon Media, which started making Shrapnel. But Long generated additional funds through a token sale, and the investors did not receive what they perceived to be a fair share of the company. They sued, and now that lawsuit has been settled. Long has not responded to a request for comment.
Entering 2025, Shrapnel has over 130,000 player accounts, over half a million social media followers, and has delivered more than 25 days of public gameplay in 2024 in early access events. More gameplay preview events will be announced prior to launch.
Shrapnel wants to create a premium-quality first-person shooter that empowers players to compete intensely, own their creations, and shape the future of the game. Shrapnel launches on PC in 2025 and utilizes its own Layer-1 token on the Avalanche blockchain.
In the Shrapnel world, a massive asteroid has impacted the moon causing meteorites to repeatedly bombard large swaths of Earth. This leaves an area known as the Sacrifice Zone uninhabitable. The meteorites contain a mysterious and powerful material called Sigma, prompting nations and corporations to commission mercenary forces to extract it. War rages to control the Sacrifice Zone and its many secrets.
