Regarding the sudden cancellation of Xbox/Windows 10 exclusive 'Scalebound', Platinum Games have issued a short statement.
The cancellation became official during the closing hours of January 9 following rumors that same day. With Microsoft announcing plans to share news of the game 'soon', they issued the damning statement later that day though the Scalebound website with Hideki Kamiya himself tweeting about the situation shortly after.
Platinum Games announced their acknowledgement of the cancellation early this morning with a post on their own Scalebound blog reading: "We’re sorry to say that on January 9, 2017, Microsoft Studios announced the cancellation of Scalebound. We are very disappointed things ended up this way, especially since we know many of our fans were looking forward to this game as much as we were".
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While Microsoft remove any evidence of Scalebound from their past and present marketing material - like the scrubbing of gameplay trailers on their YouTube channels - information about the game (including a timeline of development events) can still be viewed through Platinum Games' own webpage. Trailers and screenshots are still present here, too, alongside the title's blurb and its eventual cancellation notice.
Due to release at some point last year, we don't yet know the cause of the project's untimely end.