Indie studio walks away from Microsoft money over Gaza genocide: "Every action matters"

Published: 13:39, 13 March 2026
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Speculative Agency/People Make Games
Indie studio walks away from Microsoft money over Gaza genocide: "Every action matters"
Indie studio returns Microsoft Xbox funding over Gaza genocide, urging others to join No Games for Genocide boycott

Key Points from the Article

  • Speculative Agency returned Microsoft Xbox funding and broke their developer acceleration programme contract, citing Microsoft's complicity with Israeli military operations in Gaza
  • The studio is developing All Will Rise, a narrative courtroom deck-builder about holding the powerful accountable for destroying the future
  • The decision creates a significant financial shortfall for the indie studio, increasing pressure on their ongoing Kickstarter campaign
Indie studio returns Microsoft Xbox funding over Gaza genocide, urging others to join No Games for Genocide boycott

Speculative Agency, the small indie studio behind upcoming narrative deck-builder All Will Rise, has returned funding received from Microsoft as part of the No Games for Genocide boycott. It is a remarkable decision from a studio that can ill afford to make it.

Indie studios usually operate on tight margins at the best of times, and funding opportunities for them are increasingly scarce.

 That makes the decision by Speculative Agency to return Microsoft Xbox funding and break their developer acceleration programme contract all the more brave and important.

The studio, currently developing All Will Rise, a narrative courtroom deck-builder about "ordinary people who make the powerful pay for destroying our future," cited Microsoft's complicity with Israeli military operations as the reason for the move, aligning themselves with the growing No Games for Genocide boycott movement.

"We can win. Corporations like Microsoft might seem impossibly huge and impossible to move, but they're not."

"We are not powerless. Every action matters, and our actions matter immensely when we come together," narrative director Meghna Jayanth told Eurogamer. Jayanth acknowledged the financial reality of the decision frankly, noting the funding shortfall it creates and the increased pressure now placed on their ongoing Kickstarter campaign.

Microsoft, for their part, agreed to the contract break. "The people we corresponded with at Microsoft have been very understanding of our decision," Jayanth noted.

Steam
All Will Rise
All Will Rise

The studio is now calling on fellow indie developers to consider joining the boycott, arguing that collective action can move even the largest corporations.

Whether others will follow remains to be seen, but the courage of a small, funding-hungry studio making this call deserves to be recognised. We sincerely hope all will rise to support Speculative Agency's decision.

We strongly recommend reading Eurogamer's full piece by Robert Purchese, who reported this story in full. Go give them the traffic - they've earned it.

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