Over the last dozen years, the Warsaw‑based studio One More Level has quietly built a reputation for delivering AA‑level experiences whose visual fidelity and polish often rival those of full‑blown AAA blockbusters. Their breakthrough came in 2020 with Ghostrunner, a sleek cyber‑punk platformer that combined lightning‑fast combat with a striking neon aesthetic.
Critics praised its design, and sales figures backed that enthusiasm – industry tracker Video Game Insights estimates that the title moved roughly 5.6 million copies worldwide. The success was strong enough to merit a sequel, which arrived in 2023 and continued to cement the studio’s standing in the mid‑tier market. Despite these wins, the broader AA landscape is currently under pressure.
In recent years, investment dollars have thinned just as the market has become more crowded. Smaller publishers, wary of risk, have gravitated toward ultra‑low‑budget projects—often under $1 million—while the heavyweight studios double‑down on evergreen franchises that guarantee massive returns. Even high‑profile AA hits such as Clair Obscur: Expedition 33 have struggled to secure the kind of funding that would make a comfortable, mid‑range development cycle possible.
"Our triumph with Expedition 33 proved the concept, yet many publishers still view the AA space as a gamble," explains Radek Ratusznik, game director at One More Level, speaking to GamesIndustry.biz at Gamescom. "One success isn’t enough to change perception; we may need several more titles of that caliber before the industry truly buys in. There are plenty of studios capable of delivering solid AA games without the need for hundreds of millions of dollars." Ratusznik adds that modern development tools have shortened production timelines and reduced costs, but they haven’t eliminated the need for a realistic schedule. "We can iterate faster and be more efficient, but you can’t realistically finish a polished game in a single year without cutting corners.
Proper testing and refinement still demand time, and I doubt publishers will accept a rushed product just to hit an arbitrary deadline." The studio’s newest project, Valor Mortis, has been a roller‑coaster in terms of publishing arrangements. Originally, Ghostrunner and its sequel were released under Italy’s 505 Games, a subsidiary of Digital Bros.
However, Digital Bros announced a 30 percent workforce reduction in late 2023 as part of a broader restructuring, signaling a shift in its strategic focus. For Valor Mortis, One More Level initially partnered with Private Division, the indie‑focused label of Take‑Two Interactive.
That relationship dissolved in early 2024 when Take‑Two’s leadership, led by Strauss Zelnick, declared a renewed emphasis on AAA blockbusters, stating, "We’re in the business of making great big hits." Private Division’s assets were later sold, and the label re‑emerged in 2025 as Fictions, now backing titles such as Game Freak’s Beast of Reincarnation. When the Private Division deal fell apart, One More Level briefly contemplated self‑publishing Valor Mortis. "We realized that to achieve the quality we envisioned, we needed a partner with publishing muscle," Ratusznik says.
Enter 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 positions itself as an oasis for mid‑tier developers, a sentiment echoed by Rochkind in a 2024 interview: "When studios tell us we’re an oasis in the desert, it’s both flattering and daunting.
We can’t support every project, but when we find a title like Clair Obscur, it feels like a dream come true." Ratusznik credits the timing of Lyrical Games’ arrival as serendipitous. "Blake and Roger remembered us and understood our vision for Valor Mortis.
Their belief gave us the breathing room we needed." At the start of the Valor Mortis funding quest, One More Level employed roughly 40‑50 staff members. Despite the uncertainty, the studio resisted the temptation to downsize. "We had saved enough from previous successes to keep the team intact," Ratusznik explains. "It was a leap of faith, but we knew that dismantling a cohesive team would be far more damaging than weathering a lean period." As the October 13 launch approaches, the headcount has risen to over 70, though not all are dedicated solely to Valor Mortis; a portion is already engaged on an as‑yet‑unannounced follow‑up.
Many AA studios rely heavily on external contractors for large‑scale work—Sandfall Interactive, for instance, supplemented its core 30‑person team on Expedition 33 with a substantial freelance workforce. One More Level, however, prefers to keep production in‑house wherever feasible.
Lead designer Łukasz Wabik notes, "We outsource QA and a few marketing assets, but the majority of art, animation, and programming is done by our internal team." Looking ahead, the studio’s growth strategy is tied to Valor Mortis’ commercial performance. "If the game resonates with players, we’ll expand responsibly, but we don’t intend to jump straight into AAA territory," Ratusznik says. "Maintaining control over our creative process is paramount." Valor Mortis is a first‑person action RPG that blends influences from several celebrated franchises. Its combat system evokes the methodical, punishing encounters of Dark Souls, while its plasmid‑style abilities recall the power‑up mechanics of BioShock.
The most distinctive element, however, is its setting: the Napoleonic Wars of the early 19th century. By anchoring the narrative in this historic period, the team aims to differentiate the title in an increasingly saturated market.
Ratusznik explains the choice of era: "We wanted a backdrop that hadn’t been overused. The 19th century offered a rich tapestry of conflict, politics, and technology.
Initially we toyed with a more fantastical premise—Napoleon possessed by an eldritch force—but we pivoted toward a grounded, horror‑infused interpretation of the wars. The result is a blend of historical realism and speculative fiction, where mutated soldiers and supernatural elements coexist with the brutal reality of early‑modern warfare." The developers also highlight the first‑person swordplay as a unique selling point. "Our USP is the combination of a historically inspired setting, visceral melee combat, and subtle sci‑fi horror elements," Ratusznik says.
"Players get to experience a familiar period through a fresh lens, with mutations and eerie atmospheres that feel both recognizable and novel." In summary, One More Level’s journey illustrates the precarious yet promising nature of the AA sector. By leveraging past successes, preserving team cohesion, and aligning with a publisher that shares its mid‑tier vision, the studio hopes Valor Mortis will not only succeed commercially but also serve as proof that AA titles can thrive when given the appropriate support.
If the game meets its expectations, it could encourage more publishers to place confidence—and capital—behind ambitious, mid‑budget projects, ultimately expanding the diversity of experiences available to gamers worldwide.