Marvelous has confirmed that Kaio: The King of Pirates has been cancelled.
Originally devised by the father of Mega Man, Keiji Inafune, the game would have taken on a pirates theme on Nintendo 3DS, featuring an adorable penguin at the helm. When announced back in 2011, the studio had intended to turn King of Pirates into a series, with over 300 characters and a cross-media approach with merchandising.
It's suggested that due to the changes in market conditions, it wasn't financially viable to continue with the project, however.
Would you like to see King of Pirates resurrected from the depths of the digital ocean at somepoint?