Funds will now move to several smaller projects instead of one big game.
Marvel sort of

Last year, a Marvel MMO was announced to be in development at Daybreak Game Company. This is the same studio that made DC Universe Online which still continues to operate to my surprise.

Daybreak's parent company, Enad Global 7, says that instead of dumping a ton of money into making one big game, they will instead spread that money out across several smaller projects. Some of these "smaller projects" include working on updates for existing titles like Lord of the Rings Online and the aforementioned DC Universe Online.

This now cancelled Marvel MMO was first announced in late 2021. At the time, it was stated that this was a long-term project and to not expect any new news about it until at least 2023. Enad Global 7 did release a statement about this change of heart.

Based on the re-evaluation of the development risk profile, size of investment, and the long-term product portfolio strategy for the group, the board has decided to change the development priorities and reallocate resources within the group to focus on alternative long-term projects. The company had planned to invest more than SEK 500 million in the Marvel project over the next three years. The company will now diversify this investment across multiple, smaller size projects within the group, including the previously announced major upgrades to The Lord of the Rings Online and DC Universe Online, and new game opportunities with our first party, original IPs.
There has not yet been any word about potential layoffs as a result of this change in direction. Daybreak has already suffered several staff cuts over recent years, some of which came about after a different Marvel MMO project was canned in 2018.