Kaio: King of Pirates was intended to be a trilogy released exclusively on the Nintendo 3DS but after numerous delays, it wasn’t meant to be.
Originally announced in 2011, the game was being developed by Keiji Inafune and the team at Comcept prior to Mighty No. 9 hitting Kickstarter. After delays, the game reached the four years of development milestone at which point the publisher, Marvelous pulled the plug at the beginning of 2015.
Marvelous announced the cancellation to the Tokyo Stock Exchange (Google translated from Japanese site My Game News Flash)
Although it is a consumer title “Sea King” that was under development to create our original strong IP, Due to the sudden change in the market environment and the situation where it is difficult to formulate in the development of the media mix which we originally planned, We have decided to record approximately 461 million yen in work in process outstanding as an extraordinary loss as a development cancellation loss.
¥461 million is approximately $4 million / £3.1 million at todays exchange rate.
The gameplay was intended to be similar to that of Dynasty Warriors but with anthropomorphic characters including the main character Sangokushi who is a pirate penguin. It featured other animal pirates including cats, lions, snakes, parrots, and dragons making up the crew and opponents.
The plan for Kaio: King of Pirates was relatively lofty and had goals of becoming a multimedia franchise with anime, manga and toys being released alongside the game.
As we know Keiji Inafune eventually went on to crowdfund Mighty No. 9 on Kickstarter which raised about the same amount as Marvelous lost on Kaio: King of Pirates.