The situation around Nagoshi Studio, founded by Yakuza creator Toshihiro Nagoshi, is looking increasingly uncertain. Its debut project, Gang of Dragon, was revealed at The Game Awards 2025, but NetEase later announced that it would end funding for the studio. Now the money is not the only thing looking shaky: Nagoshi Studio’s official website has disappeared, while its YouTube channel still exists but contains no content.

There was already concern around Nagoshi Studio in April, when the studio’s YouTube channel disappeared without explanation. Fans of Yakuza had reason to worry, because this happened shortly after NetEase pulled funding from the studio. The immediate fear was that Gang of Dragon might already be in serious trouble only a few months after its reveal. The channel then returned within hours, which made the issue seem, at the time, like a temporary technical or administrative problem rather than a full collapse.

Now the situation looks more serious. The YouTube channel is still online, but it is completely empty, and Shacknews noticed that Nagoshi Studio’s official website has vanished. According to the Wayback Machine, the site was still active as recently as April 24, but it now fails to load, with the browser unable to connect to the server. PC Gamer notes that this is not a user-side error: this is what currently happens when trying to visit nagoshistudio.com.

Nagoshi Studio was founded in 2022 after Toshihiro Nagoshi left Sega the previous year. Its first project is Gang of Dragon, which was revealed at The Game Awards 2025. The game attracted attention partly because it looked strongly connected to the type of crime-action world Nagoshi is known for, and partly because Ma Dong-Seok appears to be playing a role that closely echoes the hard-man persona associated with The Outlaws.

NetEase’s Exit Leaves The Project In A Difficult Position

The website disappearing would be less alarming on its own, but it is happening alongside NetEase’s funding withdrawal. The company previously announced a broader pullback from external game development, and as part of that shift said it would end support for Nagoshi Studio in May. Reports indicated that Gang of Dragon still needed at least another $44.4 million in funding to be completed. Nagoshi was reportedly searching for new backers, but as of the March report, no replacement investor or partner had stepped in.

No official shutdown has been announced, so Gang of Dragon cannot be treated as definitively cancelled. The game’s Steam page is still live, though PC Gamer says it does not appear to have been updated since the 2025 reveal. That means the project has not completely vanished from public view, but the missing studio website, empty YouTube channel, and expiring NetEase funding together create a poor outlook.

For now, this is not a confirmed studio closure, but it is an increasingly uncomfortable silence. Nagoshi Studio’s visible communication channels are disappearing or sitting empty, while the financial backing for its debut game has weakened and no publicly known replacement has emerged. Gang of Dragon could still survive if Nagoshi finds another investor or publishing partner, but based on the current signs, the project’s future looks far from secure.

Source: PC Gamer