Over the last dozen years, the Warsaw‑based studio One More Level has carved a distinct niche in the AA (mid‑tier) segment, delivering titles whose visual fidelity and production polish often rival those of full‑blown AAA blockbusters. The studio first broke into the mainstream with the 2020 cyber‑punk action platformer Ghostrunner, a game that earned glowing reviews and, according to Video Game Insights, moved roughly 5.6 million copies worldwide. Its sequel arrived three years later, confirming that the studio could sustain a franchise while maintaining a high bar for quality.
Despite these successes, the broader AA market is under pressure. In recent years, investment streams have thinned just as the competitive landscape has intensified. Smaller publishers tend to gravitate toward low‑budget projects—often under $1 million—while the heavyweight studios pour resources into evergreen, franchise‑driven AAA titles. Even blockbuster AA hits like Clair Obscur: Expedition 33 have struggled to secure the kind of financing that would make mid‑tier development a low‑risk proposition.
"We scored a massive hit with Clair Obscur: Expedition 33, yet publishers still view the AA space as hazardous," explains Radek Ratusznik, One More Level’s game director, during a GamesIndustry.biz interview at Gamescom. "We’ll probably need several more Expedition 33‑type successes before the industry changes its perception. One triumph 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 allow studios to produce better games faster and, in some cases, more cheaply. "The technology we have today lets us iterate quickly and squeeze out higher fidelity, but you still can’t rush a title into a one‑year sprint and expect it to be polished. A game needs adequate development time, thorough testing, and a proper launch window. I’m skeptical that publishers can compress the schedule as much as they sometimes demand." One More Level’s newest project, Valor Mortis, has been a roller‑coaster ride in terms of publishing support.
Originally, Ghostrunner and its sequel were released under Italy’s 505 Games, a Digital Bros subsidiary that announced a 30 % workforce reduction in late 2023 as part of a restructuring effort. For Valor Mortis, the studio initially signed with Private Division, the indie‑focused label owned by Take‑Two Interactive.
However, Take‑Two’s 2024 strategic shift toward AAA blockbusters—summed up by CEO Strauss Zelnick’s mantra, “We’re in the business of making great big hits”—prompted a scaling back of Private Division’s activities. Private Division’s catalog was eventually sold, and the label re‑emerged in 2025 as Fictions, now known for publishing titles such as Game Freak’s Beast of Reincarnation. When the Private Division deal collapsed, One More Level briefly contemplated self‑publishing Valor Mortis. "We realized that if we wanted to preserve the quality we envision, we needed a publishing partner," Ratusznik notes.
Enter Lyrical Games, a publishing venture spun out of the film company Lyrical Media—the same studio behind Hugh Jackman’s 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 projects. "When people tell us we’re an oasis in a desert, it feels both rewarding and daunting," Rochkind told GamesIndustry.biz last year. "Clair Obscur is the type of title we’d love to have on our roster—it would be a dream." The timing proved serendipitous.
"Blake and Roger remembered us and were already familiar with the project," Ratusznik says. "Their belief gave us a lifeline at a critical moment." At the time Valor Mortis was seeking funding, the studio employed roughly 40‑50 staff members. Rather than resort to layoffs during the uncertain period, the team leaned on reserves saved from earlier successes.
"We had enough cash reserves to weather the storm without trimming the crew, which was a difficult but necessary decision," Ratusznik explains. "We took a leap of faith, trusting that funding would eventually materialize.
Maintaining the team was crucial—building a cohesive development group is hard; dismantling it is far easier." As the October 13 launch approaches, the studio has grown to over 70 employees, though not all are dedicated 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 undertakings—Sandfall Interactive, for instance, relied heavily on outside talent while developing Clair Obscur: Expedition 33. One More Level, however, prefers to keep the bulk of creation in‑house.
Lead designer Łukasz Wabik notes, "We outsource QA and a few marketing‑related assets, but the majority of art, design, and programming stays within our walls." Looking ahead, the studio is open to expanding further if Valor Mortis performs well. "Success would allow us to scale responsibly, but we don’t intend to morph overnight into an AAA‑size operation," Ratusznik says.
"We want to retain control over our creative direction and maintain the culture that got us this far." Valor Mortis itself 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 biotech powers of BioShock.
The game’s standout feature, however, is its setting: the Napoleonic Wars of the early 19th century. By anchoring the narrative in a historical period that is rarely explored in modern video games, the developers aim to differentiate their product in a saturated market. Ratusznik explains the creative process behind the setting choice. "We wanted a backdrop that hadn’t been overused.
The 19th century was appealing, but initially we toyed with a more fantastical, Bloodborne‑like vibe. Eventually we settled on the Napoleonic era because it offered a rich tapestry of conflict and intrigue while still feeling fresh." Early pitches even imagined Napoleon himself possessed by a malevolent force, but the team pivoted toward a grounded, horror‑infused narrative that emphasizes the grim realities of war. "We kept some fantasy elements—mutations, supernatural horror—but we avoided a cartoonish demon‑Napoleon scenario.
The final story focuses on the horror of combat and the psychological toll on soldiers, set against a historically resonant backdrop." First‑person swordplay, another unique selling point, further distinguishes Valor Mortis. "Our USPs are the setting, the combat, and the atmospheric horror," Ratusznik asserts. "Players get to experience a familiar historical period reimagined with mutations, eerie visuals, and a visceral combat system.
It’s a sweet spot where recognition meets novelty, and early feedback suggests we’ve hit the mark."