First Trailer for Kingdoms of Amalur MMO Surfaces Out of Funding Mire

38 Studios has released the first trailer for Project Copernicus, the MMO based on the world of Kingdoms of Amalur which is currently in development.

The trailer itself is a fly-through of the various locales in Copernicus. Since the release date is set tentatively at June 2013, gameplay footage is likely not ready yet, and the odds are getting slimmer of 38 Studios staying in business long enough get the Copernicus to that point.

Check out the trailer and an update on 38 Studios’ financial battles after the break.

38 Studios failed to make payroll last week, and was late for the first repayment a $49 million loan from the state of Rhode Island. They are required to pay another $2.6 million in November, essentially with the funding from sales of Kingdoms of Amalur: Reckoning and private capital. In 2013 38 Studios will have to pay the next $12.6 million, likely out of the spoils of Project Copernicus’ sales.

Lincoln Chafee, governor of Rhode Island, said on local news channel WRPI that 38 Studios would not receive any more money from the state. 

When asked if Rhode Island would cut funding deals for other gaming companies in the future, Chafee said, “Never. Not on my watch.”