Pearl Abyss Sells CCP Back to CEO at a Loss
In a surprising turn of events, Crimson Desert developer Pearl Abyss sells CCP back to the CEO for less than half of what they paid.
The figures, reported by Digital Today, showed that the Korean developer of hit MMO sold Eve Online developer CCP Games back to its CEO, Hilmar Veigar Pétursson, for $100 million in cash and $20 million in “token acquisition rights.” This came eight years after buying it for $225 million in cash plus $200 million in performance-related payouts.
#CrimsonDesert has sold through 4 million copies worldwide. Thank you to all the Greymanes who have been a part of this journey with us and for all of your incredible love and support. pic.twitter.com/ZJdavC9FOR
— Crimson Desert (@CrimsonDesert_) April 1, 2026
According to Gamesindustrybiz, the “tokens” might refer to blockchain-based survival game Eve Frontier. CCP Games raised $40 million in 2023 to fund it, led by crypto-enthusiast VC firm Andreessen Horowitz. Frontier is available in pre-release for those who purchase Founder Access.
Regarding the sale, Pearl Abyss spoke with Korean outlet Inven Global, and said “after exploring various mid-to-long term growth strategies, we concluded that selling the company to its current management is in the best interest of both parties’ futures,” and that the price was “determined objectively by comprehensively considering CCP Games’ current business structure and market conditions.”
“While the acquisition was a sound strategic decision at the time to secure global IP and diversify our portfolio, the global gaming business environment and our company’s strategic priorities have shifted significantly since then.”
The first stated that CCP is in the process of finalizing legal and regulatory steps to change ownership. “This is a change in ownership and governance only, with no impact to CCP’s teams, products, or development plans.”
After the news was shared about the recent sale, CCP Games announced that they’re rebranding to Fenris Creations. In a post on their official Eve Online X account, the developers said, “We are becoming Fenris Creations: an independent company built to support the long-term future of the EVE universe.”
The next step on the path to EVE Forever begins today, on EVE’s 23rd anniversary.
— EVE Online (@EveOnline) May 6, 2026
Today, we announced that we are becoming Fenris Creations: an independent company built to support the long-term future of the EVE universe.
The name Fenris Creations is inspired by Norse myth,… pic.twitter.com/l1zjauylfv
“We enter this new chapter with gratitude to Pearl Abyss for their partnership and support since 2018, and with respect for what this chapter helped make possible.”
Pearl Abyss has seen immense success thanks to the recently launched Crimson Desert, which has sold over five million copies since its launch. Reports show that Eve Online delivered a third of the company’s revenue, with the remainder coming from Pearl Abyss’ prior MMO, Black Desert.
