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OnLive, a well-known video game streaming service, on Friday unexpectedly fired all of its staff and filed an alternative to bankruptcy, a status that provides companies in financial trouble a level of protection from creditors. The company does not shut down its services, but the current legal entity behind the OnLive brand will cease to exist, while another one will be created.

All Out

Earlier today a report broke through claiming that OnLive popular servicer called an all hands meeting, where they fired the entire crew and, perhaps, revealed some of their next steps. One of them is, potentially, the creation of a new company that would continue with the OnLive services. Some of the employees may regain their positions in the new company, but no additional details have been revealed at this point.

“I wanted to send a note that by the end of the day today, OnLive as an entity will no longer exist. Unfortunately, my job and everyone was included. A new company will be formed and the management of the company will be in contact with you about the current initiatives in place,” an unknown source told Mashable web-site.

Meanwhile, the staff reportedly started to blame chief executive of OnLive for not selling the business, like competing Gaikai video game streaming service, to a big company or a strategic investor. It could provide the funds necessary to continue enhancing the data centers needed to operate the video games streaming services. Apparently, the company had been approached with takeover offers several times, but its chief executive officer rejected the idea.

OnLive on Friday filed an assignment for the benefit of creditors, which according to U.S. law generally implies a contract whereby the insolvent entity (Assignor) transfers legal and equitable title, as well as custody and control of its property, to a third party (Assignee) in trust, to apply the proceeds of sale to the assignor's creditors in accord with priorities established by law.

Patents Work, Services Carry On

It is important to point out that OnLive reportedly holds a number of patents covering cloud-distributed content, especially in 3D graphics, a portfolio that may become tremendously important these days. Without any doubts, the investors will continue to capitalize on them even if the service itself becomes unviable. It looks like this is not the case, though. The services will remain operational as the new company takes everything over.

"Let me be clear. We are not going out of business," said Brian Jaquet, OnLive’s director of corporate communications.

Tags: OnLive

Discussion

Comments currently: 8
Discussion started: 08/18/12 10:03:06 AM
Latest comment: 08/20/12 11:49:17 AM
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1. 
What a joke. Cloud gaming might very well be one of the worst ideas in computing history.
0 0 [Posted by: lol123  | Date: 08/18/12 10:03:06 AM]
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why?
Being able to always play the latest and greatest games without having to have a state of the art computer and upgrading it every 2 years could be very appealing to a lot of people.
0 0 [Posted by: Countess  | Date: 08/18/12 11:15:14 AM]
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Itll never satisfy most people because the 250ms of latency for it to reach their server, be processed and return to yours, will be really obvious and annoying in most games. Its roughly the equivalent of how its hard to judge movement when your playing a game with only 10 FPS.

Now imagine if they tried to host / offer games like wow on their service, youd have the 250ms between you and their server, and an additional 100ms from them to the blizzard server. (Generally they host the online servers themself for most games to prevent this, but thats not possible for WoW)
2 0 [Posted by: cashkennedy  | Date: 08/18/12 02:17:49 PM]
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Furthermore, if you have under 10mbps internet conection it will have to stream the games to you in 720p most likely, and at that point you might as well buy a 100 dollar graphics card because pratically anything can handle gaming at that low resolution.
2 0 [Posted by: cashkennedy  | Date: 08/18/12 02:23:13 PM]
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don't forget that you always need to be on-line. and have a constant amount of latency. but the latency and always online part will always scare me when cloud computing. it might succeed but only when the network stability and bandwidth and latency have improved.

but for the game makers this will be the perfect way to lower piracy.
0 0 [Posted by: massau  | Date: 08/20/12 11:49:17 AM]
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Some games can benefit to it. Multi-player games are not good for it, but single player games can benefit for cloud gaming. Setting up something like dosbox in order for me to play my old DOS games is not easy.
0 2 [Posted by: tecknurd  | Date: 08/19/12 12:31:52 PM]
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2. 
is on cloud gaming suppose to be in the realm of html5? or is it something so different about 3d rendering by the server and only small screen displays are encoded and send over the internet would be awesome if it can be done. by doing so no upgrade of our gaming PC is needed. we just need an old 486sx ruining windows 95 or 98 to do the web-browsing and playing 3d game like WOW. move over my shammy need some space to lay down those totems for raid wide buffing.
0 0 [Posted by: idonotknow  | Date: 08/18/12 11:33:31 AM]
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No, cloud gaming is a way for a server to be a game station while that server is sending images and sound to the client. Think what Virtual Network Computing programs such as TightVNC and RealVNC does then you will understand.
0 0 [Posted by: tecknurd  | Date: 08/19/12 12:22:02 PM]
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