Over the last dozen years, Poland’s One More Level has built a reputation for delivering AA‑grade experiences that often rival the polish of full‑blown AAA blockbusters. The studio first burst onto the scene with the 2020 cyber‑punk action platformer Ghostrunner, a title that earned glowing reviews and moved an estimated 5.6 million copies, according to Video Game Insights.

Its sequel arrived in 2023, cementing the studio’s ability to produce high‑quality, fast‑paced games on a mid‑range budget. Despite these successes, the broader AA market is under pressure. In recent years, investment streams have thinned just as competition has intensified.

Smaller publishers tend to hedge their bets on projects under $1 million, while the industry giants pour resources into evergreen AAA franchises. Even blockbuster AA hits like Clair Obscur: Expedition 33 have struggled to secure steady financing, illustrating how challenging it can be to fund a mid‑tier game. "We scored a massive win with Clair Obscur: Expedition 33, yet publishers still view the AA segment as risky," explains Radek Ratusznik, game director at One More Level, during a GamesIndustry.biz interview at Gamescom.

"We probably need a handful of Expedition 33‑type successes to change that perception. One hit isn’t enough.

There are plenty of studios capable of delivering strong AA titles without blowing hundreds of millions on development." Ratusznik adds that modern tools allow developers to create higher‑quality experiences more quickly and at lower cost, but there are limits. "We can accelerate production and trim expenses, but you can’t compress a full game into a single year without sacrificing quality. Proper testing and polish still take time, and I doubt publishers will accept a rushed product." One More Level’s journey to bring its newest project, Valor Mortis, to market has been anything but smooth.

The game, slated for release on October 13, was initially slated for publication by Private Division, an indie‑focused label under Take‑Two Interactive. However, in 2024 Take‑Two began scaling back Private Division to concentrate on AAA titles, with CEO Strauss Zelnick stating, "We’re in the business of making great big hits." When Private Division’s support evaporated, One More Level contemplated self‑publishing. "We realized that if we wanted to maintain the quality we envision, we needed a partner with publishing muscle," Ratusznik says.

The lifeline arrived in the form of Lyrical Games, a publishing venture spun out of the film company Lyrical Media – the same outfit behind the Hugh Jackman movie The Death of Robin Hood. Founded in 2025 by former Private Division executives Blake Rochkind and Roger Kurtz, Lyrical Games positions itself as a rare oasis for mid‑tier projects. "People tell us we’re an oasis in a desert, which is both flattering and a bit intimidating," Rochkind told GamesIndustry.biz last year. "When we see a title like Clair Obscur, we know it aligns perfectly with the kind of experience we want to champion.

Having a game like that in our catalog would be a dream." Ratusznik credits the timing of Lyrical Games’ emergence as serendipitous. "Blake and Roger remembered us and understood the project inside out," he notes. At the time One More Level employed roughly 40‑50 staff members, and despite the uncertainty, the studio resisted the urge to downsize.

"We had some savings from earlier successes, which allowed us to keep the team intact. It was a leap of faith, but we believed in our people. You can build a great team, but it’s far easier to break it apart," he reflects.

The gamble appears to be paying off. The studio has now grown to over 70 employees, though not all are assigned to Valor Mortis; some are already working on an undisclosed follow‑up title. Many AA studios augment their core teams with external contractors for larger projects – Sandfall Interactive, for instance, relied heavily on outside talent while developing Clair Obscur: Expedition 33.

One More Level, however, prefers to keep as much work in‑house as possible. Lead designer Łukasz Wabik explains, "We outsource QA and a few marketing assets, but the majority of art, design, and programming stays within our walls." Looking ahead, the studio says a strong launch for Valor Mortis could trigger another wave of hiring, but Ratusznik cautions against a rapid shift toward AAA‑scale operations.

"If the game succeeds, we’ll grow responsibly. We don’t want to become a huge AAA studio overnight; we want to retain control over our creative direction." Valor Mortis itself is a first‑person action RPG that blends familiar inspirations with a fresh historical backdrop. Its combat draws on the deliberate, punishing encounters of Dark Souls, while its plasmid‑style abilities echo the biotech powers of BioShock.

The twist lies in its setting: the 19th‑century Napoleonic Wars. Ratusznik says the team deliberately sought a period that hadn’t been overused in modern gaming. "We initially toyed with a more fantasy‑laden concept, something reminiscent of Bloodborne, but we wanted a setting that felt both recognizable and distinct.

The Napoleonic era offered that balance." Early narrative pitches even featured a demonic Napoleon, but the team later opted for a grounded, horror‑infused take on the era. "We kept some fantastical elements, but the focus shifted to the grim realities of war and its psychological toll. It’s less about a demon emperor and more about a dark, horror‑tinged version of the period," Ratusznik explains. First‑person swordplay, combined with the period‑specific aesthetics and supernatural mutations, forms the core of Valor Mortis’ unique selling points.

"Our USPs are the setting, the combat feel, and the horror atmosphere," he says. "Players will recognize the historical backdrop, yet the mutations and eerie tone give it a fresh spin that stands out in a crowded market." In summary, One More Level’s saga—from Ghostrunner’s breakout success, through a precarious funding hiatus, to a partnership with a film‑industry‑born publisher—illustrates both the fragility and the resilience of the AA space.

Their latest effort, Valor Mortis, aims to prove that mid‑tier games can deliver AAA‑level experiences without the massive budgets, provided they have the right creative vision, a stable team, and a publisher willing to take a measured risk.