The studio has announced it will cease operations this spring.
Paragon will cease development on the game on all platforms--PS4 and PC--and shut down its servers.
They will offer refunds for every purchase ever made on the game.
Additionally, refunds will be offered for every purchase ever made on the game.
In a statement the Paragon development team has now shared its decision to shutter Paragon altogether on April 26 and explained why it felt the move was necessary.
"It's with heavy hearts we've decided to close down Paragon," the message says. "We truly appreciate everything you've put into Paragon. We received many passionate ideas for where to take the game; the outpouring of thoughtful suggestions is another testament to this incredible community. After careful consideration, and many difficult internal debates, we feel there isn't a clear path for us to grow Paragon into a MOBA that retains enough players to be sustainable. We didn't execute well enough to deliver on the promise of Paragon. We have failed you--despite the team's incredibly hard work--and we're sorry."
Paragon is played from the perspective of a third-person action game and It's debuted in paid early access in 2016 and has been available on both PC and PS4.
"To try to make this right, Epic is offering a full refund to every Paragon player for every purchase on any platform," it says. "This refund will come directly from Epic rather than your platform provider."