About the Studio


Arctic Theory was founded in the lava fields of Hafnarfjörður, Iceland, in the summer of 2020 by seasoned industry veterans.

With a wealth of experience in developing some of the most ambitious and beloved multiplayer games of all time, our vision is to make MMO design and development more agile and innovative, breaking from genre norms, creating virtual worlds with immersive multiplayer experiences that empower players to shape the universe around them.

Our Founders

Photo of Arctic Theory Co-Founder and CEO, Matthías Guðmundsson

Matthías Guðmundsson

CEO & Co-Founder

Matti has been building MMOs since 1996, working as a senior programmer in various companies throughout his career, notably spearheading the development and architecture of core components for CCP's EVE Online. He also served as Chief Technology Officer in the development and implementation of cloud-based services for Directive Games. Matti co-founded Arctic Theory to channel his extensive expertise and creative vision into creating groundbreaking open-world MMO games that aim to redefine the genre and engage players in new, exciting ways.

Photo of Arctic Theory Co-Founder and Creative Director, Gísli Konráðsson

Gísli Konráðsson

Creative Director & Co-Founder

A longtime game industry veteran, Gísli's expertise has expanded over his career to encompass almost every aspect of game development. From large scale MMO titles like CCP's flagship Eve Online as Lead Technical Artist, Game Lead at Shanghai's Directive Games, to myriad additional projects across console, mobile, VR and AR spaces, Gísli has a perpetual drive to see the gaming industry grow and progress. He co-founded Arctic Theory to help write the next chapters in the evolution of virtual worlds in the MMO genre.


Our Mission

Arctic Theory endeavors to push the boundaries of multiplayer gaming through collaboration, creativity, and community. We strive to meld traditional MMO elements with groundbreaking, evolving social experiences, bringing fresh perspectives to the genre. Our focus is on creating virtual worlds that empower players to shape their universe, while fostering a strong sense of camaraderie and shared adventure.


Our Values


We are pioneers, venturing into the uncharted territories of multiplayer gaming. We value those willing to take risks in pursuit of fresh ideas. Not every concept may succeed, but we believe in trying. In our journey, daring to attempt is our compass.


Teamwork is the cornerstone of our philosophy. We understand great achievements are the result of supporting each other’s ideas and efforts. Despite differences, our shared dedication brings us together. Our strength comes from a collaborative spirit.


Peace of mind is an integral part of our process. We shun crunch, advocate for work-life balance, and strive to create an atmosphere where good days are the rule, not the exception. Mental health and happiness is essential to our culture.


Our Technology

The proprietary Existence Platform technology is designed to manage large-scale online environments, supporting thousands of players in a persistent, shared world.

It lets Arctic Theory developers populate these worlds with millions of dynamic elements, while also simplifying the creation of structured scenarios such as missions and quests. Additionally, the platform includes a built-in communication system to enhance social interaction, promoting community engagement across Existence Platform games.

Remote Working

While it's great to have colleagues join us in Iceland, we understand it's not practical for everyone. We support remote work for talented individuals across the globe. whether you're in-house or working from afar, we're committed to supporting hybrid and flexible work hours.

Photograph of two Arctic Theory team members, one working at their computer, the other stood next to them

Our Team

As a group of individuals sharing a deep love for video games, new perspectives and creativity, we strive to make our studio a place where employees can grow, share knowledge and reach their potential.

How we operate

Work with us

The Arctic Theory team is growing, come and help us reshape the landscape of MMOs.

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