Co-CEO and co-founder Ric Moore has stepped down, Gina Nelson is now the studio’s sole chief executive

Image credit: Oxalis Games

Indie developer Oxalis Games is changing direction on upcoming cosy RPG, Moonfrost, ditching web3 and NFTs.

The company now says it is focused on releasing the game as a "handcrafted, premium" release and is targeting Steam and the Epic Games Store when it comes to launch.

This news also comes alongside a change in leadership at the company; Gina Nelson is now Oxalis Games’ sole CEO, having previously shared the role with fellow co-founder Ric Moore as of July 2024. Before that, she spent five and a half years as COO.

Moore announced his departure from the studio on LinkedIn, saying that he had stepped down after Nelson "expressed a desire to run the company on her own".

Companies House has him being removed as a director as of December 31, 2025, but he has remained at Oxalis as an advisory board member, adding that he is still a "major stakeholder"; on Companies House, he is still a person with significant control, alongside Nelson.

“We tried a path that didn’t fit Moonfrost,” Nelson said.

“And we heard you - loudly and clearly. The communities that truly care about cozy games want rich worlds, meaningful progression, and a safe, welcoming place to escape into. They don’t want NFTs. So we’re closing that chapter completely and building Moonfrost the way it should always have been."

She added: “Web3 communities are often shaped around earning and speculation. That isn’t a foundation for the kind of game we’re making. We’ve built Moonfrost with an enormous amount of care and passion, because it’s meant to feel like a world players can truly come home to. It’s about more than farming or adventuring, and it belongs in the premium PC space.”

Nelson also said that while Oxalis has "explored AI tools", the studio will be focusing on "doubling down on craft"

"Moonfrost is made by people - pixel by pixel, system by system - with a beautiful original soundtrack that pulls you into the world," she said. "It’s intentional, hands-on work, and we’re proud of that. We have no interest in replacing our team, and I believe the human touch is what will stand out in a sea of low-effort, automated content."

Oxalis Games was founded in August 2020. Two years later, the company attracted $4.5 million in seed funding led by Blocore, but also including names including Supercell, Animoca Brands, Griffin Gaming Partners, and Sir Ian Livingstone and then-Jagex CEO Phil Mansell. The company has since attracted another $2 million in a late 2025 funding round led by L1D and Arete Capital.

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