14-3-2025 – ATMTA, the development studio behind the ambitious Solana-based massively multiplayer online game Star Atlas, has set its sights on a potential year-end release for core game elements, according to Chief Executive Michael Wagner.
“Getting the core mechanics of an MMO online and released by the end of the year, that’s our goal right now,” Wagner revealed in a recent conversation with The Block, though he acknowledged the notoriously unpredictable nature of game development timelines.
The gaming ecosystem’s primary ATLAS token currently trades at a mere fraction of its bull market peak. During the 2021 cryptocurrency surge, the token reached $0.23, propelling its market capitalisation beyond $500 million. Today, that figure hovers around a more modest $24 million, with trading volume significantly diminished.
Despite these challenges, Wagner maintains ATMTA has generated substantial revenue through token and digital asset sales, claiming the company has produced “collective value” exceeding $220 million across various revenue streams over its four-year existence.
“In terms of revenues, we probably are the most successful web3 game studio that exists today,” Wagner asserted. “And I think even benchmarking, as against any traditional company, the ability to generate [over $220 million dollars] in revenue from the ground up with no venture capital over four years is really impressive.”
The project, which began development in 2020, currently offers players access to a 2D browser game. However, ATMTA’s ambitious vision centres on delivering “Season 0” of a AAA-calibre experience as swiftly as possible, employing Unreal Engine 5 to create what the company describes as “cinematic quality video game visuals.”
An early-access test version is currently available through Epic Games Store, while the gaming community maintains a substantial presence with over 177,000 members in its Discord server.
According to DappRadar metrics, Star Atlas user engagement—measured by daily active wallets—reached approximately 20,000 in 2022 before declining to fewer than 2,000 daily users. Wagner confirmed the current browser-based “Star Atlas Golden Era” (SAGE Labs) attracts only about 1,500 daily active users.
“We have a sizable audience and community, although our daily active numbers, I don’t think are fully representative,” Wagner explained. “The long-term goal is not to focus on that specific product line, but really to get that AAA game out.”
The envisioned Star Atlas universe represents an open-world, intergalactic role-playing experience where players align with factions and trade in-game assets including spacecraft and crew members.
Wagner characterised the current web3 gaming market as “tepid” with generally negative sentiment. “There is a certain level of attrition going on right now where people are kind of giving up on it,” he noted, highlighting that the most successful web3 games thus far have been relatively simple offerings like “Axie Infinity” or the briefly popular Telegram-based clicker games.
ATMTA’s journey has been fraught with significant obstacles, including a devastating financial blow following the FTX exchange collapse in 2022. Wagner disclosed that approximately $15 million in company funds became inaccessible when FTX imploded. “As was the case for most people, it was absolutely brutal for us on multiple fronts,” he recalled.
This crisis necessitated substantial corporate restructuring, reducing ATMTA’s workforce from 235 employees to roughly 100. Despite these setbacks, Wagner expressed pride that the company has managed to operate without raising venture capital funding.
In a bid to strengthen the technological underpinnings of the Star Atlas ecosystem, ATMTA recently announced a strategic equity investment in Shaga, described as an “innovative decentralised cloud gaming platform.”
According to a Wednesday blog post, “Shaga introduces a fresh approach to cloud gaming by utilising existing gaming PCs as Shaga Nodes, enabling players to contribute to infrastructure and transforming local communities into virtual arcades.” This decentralised model purportedly reduces dependence on distant servers while delivering low-latency gameplay experiences.