VentureBeat reports that during a reddit session held last weekend, Minecraft-creator Markus “Notch” Persson confirmed that he has backed out of funding for a Double Fine-produced sequel to Psychonauts. According to himself, he vastly underestimated what the development of such a title would cost. More details are included after the jump.
Last February, Notch reached out to Double Fine-founder Tim Schafer and offered to help “make Psychonauts 2 happen.” At the time, Persson expected the project to cost between 1 and 2 million USD, but it eventually turned out that Double Fine would be looking for an investment around $18 million to get the project off the ground. Though Persson has once mentioned that more investors would be involved in backing the project it now appears that external investments are off the table for a sequel to 2005’s Psychonauts.