Pengu Studios, known for its innovative platform designed to simplify tabletop role-playing games, has filed for bankruptcy despite securing funding and offering a free version.
Despite a small investment of €50,000 aimed at enhancing the TTRPG experience, Pengu Studios struggled with limited traction and reported only SEK0.5 million in net revenue.
The company's recent strategy to make its core platform free to play failed to attract enough users, highlighting ongoing challenges in the competitive TTRPG market.
Founded in 2018, Pengu Studios sought to improve engagement in TTRPGs but ultimately could not stabilize financially, leading to its bankruptcy filing.
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