Over the last dozen years, the Warsaw‑based studio One More Level has built a reputation for delivering AA games whose production quality often rivals that of AAA blockbusters. Their breakthrough came in 2020 with Ghostrunner, a cyber‑punk action platformer that earned glowing reviews and sold an estimated 5.6 million copies, according to Video Game Insights. The success was followed by a sequel in 2023, cementing the studio’s status as a serious mid‑tier contender. Nevertheless, the AA segment is currently under pressure.
In recent years, investment streams have thinned just as the market has become more crowded. Smaller publishers tend to back low‑budget projects—often under $1 million—while the major houses pour resources into evergreen AAA franchises.
Even with blockbuster‑level sales for titles such as Clair Obscur: Expedition 33, securing financing for a mid‑range game remains a steep uphill battle. "We achieved massive success with Clair Obscur: Expedition 33, yet publishers still view the AA space as risky," explains Radek Ratusznik, One More Level’s game director, to GamesIndustry.biz at Gamescom. "We’ll probably need a handful of Expedition 33‑type hits to change that perception.
One hit isn’t enough. There are plenty of studios capable of delivering high‑quality AA titles without blowing hundreds of millions of dollars." He adds, "With today’s tools we can create better games faster and, in some cases, cheaper. But you can’t magically finish a polished product in a single year. Development still needs adequate time for testing and refinement.
I doubt we can squeeze everything into an unrealistic schedule, even if some publishers would like us to." One More Level’s latest project, Valor Mortis, has been a roller‑coaster ride in terms of publishing. The studio’s earlier titles were released through 505 Games, the Italian label owned by Digital Bros, which announced a 30 % staff reduction in late 2023 as part of a restructuring effort. For Valor Mortis, the studio initially signed with Private Division, a Take‑Two subsidiary.
However, Take‑Two began scaling back Private Division in 2024, with CEO Strauss Zelnick stating the company wanted to focus on AAA hits: "We’re in the business of making great big hits." (Private Division’s catalogue was sold and the label re‑emerged as Fictions in 2025; it now publishes titles such as Game Freak’s recent Beast of Reincarnation.) When the Private Division deal collapsed, Ratusznik considered self‑publishing Valor Mortis. "If we wanted to keep the quality we envisioned, we needed a publisher," he says.
The rescue came from Lyrical Games, a publishing venture spun out of the film company Lyrical Media—the same outfit behind the Hugh Jackman film The Death of Robin Hood. Founded in 2025 by former Private Division executives Blake Rochkind and Roger Kurtz, Lyrical Games is one of the few publishers dedicated to mid‑tier projects. "People tell us we’re an oasis in a desert, which is both flattering and a little terrifying because we can only do so much," Rochkind told GamesIndustry.biz last year. He cited Clair Obscur as the sort of title his label hopes to champion: "Having a game like that on our roster would be a dream." The timing proved perfect for One More Level.
"We were lucky that Blake and Roger remembered us and knew the project inside out," Ratusznik notes. At the time the studio was employing roughly 40‑50 people while seeking funding for Valor Mortis. Rather than resort to layoffs during the uncertain period, the team survived on cash reserves accumulated from earlier successes. "It wasn’t easy, but we took a leap of faith that funding would eventually arrive.
A solid team is hard to build and easy to lose," Ratusznik reflects. As the October 13 launch approaches, the studio has grown to over 70 staff, though not all are assigned to Valor Mortis—some are already working on an undisclosed follow‑up. Many AA developers augment their core teams with external contractors; for example, Sandfall Interactive relied heavily on outside help while creating Clair Obscur: Expedition 33.
One More Level, however, prefers to keep most production in‑house. Lead designer Łukasz Wabik explains, "We outsource QA and a few marketing assets, but the bulk of art, design, and programming stays inside the studio." Future hiring will depend on Valor Mortis’ commercial performance. "If the game succeeds, we’ll likely expand, but we don’t intend to jump straight into AAA territory.
We want to grow at a pace we can control," says Ratusznik. Valor Mortis is a first‑person action RPG that blends influences from several celebrated franchises. Its combat feels reminiscent of Dark Souls, with punishing bosses and a death mechanic that drops items for later retrieval. The game also incorporates plasmid‑style powers that echo BioShock’s augmentations.
What truly sets it apart is its setting: the Napoleonic Wars of the early 19th century. The developers deliberately chose a period rarely explored in modern video games to differentiate themselves in an increasingly saturated market. Ratusznik recounts the brainstorming process: "We first considered a more familiar, fantasy‑leaning backdrop like Bloodborne, but we wanted something specific.
The Napoleonic era offered a rich historical canvas with plenty of narrative potential. Initially, one pitch imagined Napoleon possessed by a dark force, but we pivoted toward a grounded, horror‑infused war story.
The final vision balances historical realism with subtle supernatural elements, avoiding overt demon‑Napoleon tropes." The first‑person swordplay, combined with the period‑accurate weaponry and the game’s unique mutations and horror ambience, constitute the studio’s core unique selling points. "These are our USPs. They’re strong, and the early feedback has been very positive," Ratusznik says.
"Players get to experience a recognizable slice of history, but with a fresh twist—mutations, horror tones, and a distinct combat feel. It’s that sweet spot where familiarity meets novelty, and we think it will resonate with gamers looking for something different yet approachable."