Via an update video, Game Director Tony Huynh has confirmed that MultiVersus will be shutting down its online servers in 90 days so that the team can put all of its focus into improving the game and creating new content to gear up for a strong full launch in "early 2024."
The exact date of the shutdown is June 25, 2023. This will mark the end of the game's long-standing open beta. Once the game reopens its servers in 2024, it will be its full launch, which Huynh states will bring in improvements in netcode, progression, and matchmaking, as well as new characters, maps, and modes.
Huynh also confirms that the game won't be shutting down completely, just its online functionality. Players will still have access to the training mode as well as offline matches, so they'll still be able to get together and play locally, as well as continue the competitive scene, if they so desire. You will still have access to all your unlocks and cosmetics, and these items will remain unlocked and available for players when the game returns in early 2024.
The well-received free-to-play platform fighter first launched in its open beta form in July 2022, and it received a massive amount of attention, accumulating over 150,000 concurrent players on Steam. As many have noted however, the game's playercount had drastically decreased over time.
Though it's only natural for a game to peak at launch, then slowly lower as only the more committed players stick around, the game's decline was remarkably sharp, suffering a 99% drop (a recent daily average of less than 1,000 concurrent players) over the course of eight months. Chances are this decline was a motivating factor in the decision to put the game on hold. This way the devs will get more time to place MultiVersus in its most appealing state possible as quickly as possible.
When it comes to why the playercount has dipped so much over time, this can only be speculated. Many commentators and analysts believe it's due to the output of new characters slowing down over time, while others state it's the game's overcentralizing combo-heavy metagame. Regardless, hopefully MultiVersus returns with a strong full launch in 2024 so that die-hard fans can continue to enjoy it.