"We’ll Need Several More Expedition 33s to Convince Skeptics" – Valor Mortis Creator Explains Why Publishers Should Trust AA Titles

Over the last dozen years, the Warsaw‑based studio One More Level has quietly built a reputation for delivering AA games whose production quality often rivals that of full‑blown AAA blockbusters. The studio first burst onto the global stage with Ghostrunner, a cyber‑punk action platformer released in 2020 that earned rave reviews and sold an estimated 5.6 million copies, according to Video Game Insights.

The success was strong enough to justify a sequel, which arrived in 2023 and continued to cement the studio’s reputation for high‑octane, tightly designed experiences. Despite these achievements, the broader AA market is under pressure. In recent years, investment capital has dried up just as the competitive landscape has intensified.

Smaller publishers increasingly gravitate toward low‑budget projects under $1 million, while the heavyweight studios double‑down on evergreen, big‑ticket franchises. Even blockbuster AA titles such as Clair Obscur: Expedition 33 have struggled to secure reliable funding, illustrating how precarious the mid‑tier segment has become. "Our hit with Clair Obscur: Expedition 33 proved the concept, yet many publishers still view AA as a risky bet," explains Radek Ratusznik, game director at One More Level, during a GamesIndustry.biz interview at Gamescom.

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

There are plenty of studios capable of delivering high‑quality AA games without blowing hundreds of millions of dollars." Ratusznik adds that modern development tools have shortened production cycles and lowered costs, but they haven’t eliminated the need for a realistic timetable. "The technology lets us create better games faster and cheaper, but you can’t realistically finish a polished title in a single year without compromising quality. Publishers who push for extreme compression risk releasing an unfinished product, and that’s not a gamble we’re willing to take." One More Level’s latest project, Valor Mortis, has been a case study in the volatility of publishing deals. The studio’s earlier titles were released through 505 Games, the Italian arm of Digital Bros, which announced a 30 % staff reduction in late 2023 as part of a restructuring plan.

For Valor Mortis, the developers initially signed with Private Division, a boutique label under Take‑Two Interactive. However, in 2024 Take‑Two announced a strategic shift toward AAA titles, prompting parent company CEO Strauss Zelnick to state, "We’re in the business of making great big hits." Consequently, Private Division’s assets were sold, and the label re‑emerged in 2025 as Fictions, now known for publishing Game Freak’s Beast of Reincarnation. When the Private Division agreement collapsed, One More Level briefly considered self‑publishing Valor Mortis. "We realized that to achieve the quality we envision, we needed a partner with publishing muscle," Ratusznik says.

The lifeline arrived from Lyrical Games, a publishing venture spun out of the film company Lyrical Media, which produced the Hugh Jackman film The Death of Robin Hood. Founded in 2025 by former Private Division executives Blake Rochkind and Roger Kurtz, Lyrical Games positions itself as an oasis for mid‑tier developers seeking dedicated support. "People tell us we’re an oasis in a desert, which is both flattering and daunting," Rochkind told GamesIndustry.biz last year. "When we see a title like Clair Obscur, it validates our mission.

If we could add a game of that caliber to our catalogue, it would be a dream come true." Ratusznik acknowledges that timing was crucial. "Blake and Roger remembered us and understood the project intimately. Their belief in our vision made all the difference." At the time Valor Mortis was seeking funding, One More Level employed roughly 40‑50 staff members.

Rather than resort to layoffs during the uncertain period, the team relied on reserves accumulated from earlier successes. "We had saved enough to ride out the storm without cutting jobs, which was a hard but necessary leap of faith," Ratusznik reflects. "A cohesive team is hard to build and easy to destroy, so we chose to protect our people." As the October 13 launch approaches, the studio has expanded to over 70 employees, though not all are assigned to Valor Mortis; some are already working on a secret, unannounced project. Unlike many AA studios that outsource large portions of development, One More Level prefers to keep core work in‑house.

Lead designer Łukasz Wabik notes, "We outsource only QA and a few marketing assets; the majority of art, design, and programming stays within our walls." Looking ahead, the studio plans to scale further if Valor Mortis proves successful, but Ratusznik cautions against a rapid transformation into a AAA‑size operation. "Growth is welcome, but we want to retain control and stay true to our identity rather than morphing into a massive corporate engine overnight." Valor Mortis itself is a first‑person action RPG that blends familiar mechanics with a fresh historical backdrop. Its combat draws inspiration from Dark Souls‑style boss encounters and the punitive death penalties of that genre, while its plasmid‑like abilities echo the power‑up systems seen in BioShock.

The most distinctive element, however, is its setting: the Napoleonic Wars of the early 19th century. The developers deliberately chose a period rarely explored in modern games to differentiate their product in a crowded market.

Ratusznik explains the creative process behind the setting. "We wanted a time that hadn’t been overused.

Initially we toyed with a Bloodborne‑style fantasy, but then we asked ourselves what historical moment could provide both drama and visual intrigue. The Napoleonic era fit perfectly." Early narrative pitches even imagined Napoleon himself possessed by a dark force, but the team eventually opted for a more grounded story. "We kept some fantastical touches, but we moved away from a demon‑possessed emperor. Instead, we focus on the brutal realities of war, infused with horror elements and subtle mutations that give the game its unique flavor," he says.

The first‑person swordplay, combined with the period‑specific weaponry and the eerie, mutated enemies, forms the core of Valor Mortis’s unique selling points. "Our USP is the marriage of a recognizable historical setting with horror‑infused fantasy and visceral combat. Players get a fresh take on a familiar era, which we believe will resonate strongly," Ratusznik concludes. In summary, One More Level’s journey—from a promising AA studio, through funding turbulence, to a partnership with a film‑industry‑derived publisher—highlights the challenges and opportunities facing mid‑tier developers today.

Their upcoming title, Valor Mortis, aims to prove that with the right support, AA games can deliver both critical acclaim and commercial viability, encouraging publishers to place renewed faith in the AA segment.