The (Fake) Shenmue 4 Trailer and the Series’ Future

A Shenmue-themed spoiler warning.

Spoiler Warning: Beware minor spoilers for Shenmue and Shenmue II.

I started to write this piece in December, when the (pretty obviously fake) “Shenmue IV” trailer started doing the rounds online, but everything I wanted to say back then pretty quickly became irrelevant after just a few days, when both YSNet and the trailer’s creator confirmed that it was a hoax. But the fake trailer for a potential sequel to 2019’s Shenmue III did, for a brief moment, raise some hopes in the fan community, so I wanted to talk a little about the series’ future today.

First of all, I have absolutely no problem with fans creating mock-ups of games, movies, or TV shows that they’d like to see. And I don’t really mind the use of generative A.I. by fans for such projects, either. A.I. is a contentious subject, but fans making things they’re passionate about in a totally unpaid, non-commercial way is, in my view, a far better use of generative A.I. than a massive corporation using it to cheap out and even lay off staff.

Still frame from a hoax trailer for "Shenmue IV" showing two main characters.
A still from the hoax trailer.

But – and you knew a “but” had to be coming after all of that – I have absolutely no time for hoaxes, fake “leaks,” and lies, which is what this fake trailer was. There’s no excusing that, in my opinion, and lying to fans of a dormant (or dead) series that a sequel is coming is just… cruel. The hoaxer claims to have done it out of passion for the Shenmue series, but I really struggle to see it that way. Although the fake trailer didn’t convince me it was real (we’ll talk more about that in a moment), it clearly did trip up a lot of fans. When the community has had so little by way of good news in such a long time, there’s absolutely excuse for this kind of thing. This was a prank that, whatever the intention may have been, caused hurt and disappointment – and any human with a brain cell and basic empathy would have known that before releasing something like this.

The trailer itself raised a ton of red flags for me, but it was pretty competently-made. It’s pretty neat, in some ways, to see what generative A.I. can do already, and I can’t help but wonder if, one day, the same kinds of tools used to create this hoax may have a role to play in telling the final chapters of the Shenmue saga.

Screenshot of the Sora (OpenAI) website, showing examples of AI-generated videos.
Generative A.I. has some impressive capabilities.

So… why didn’t the hoax convince me, then? The answer has less to do with the content of the trailer itself and more to do with what we know of YSNet, Sega, Shenmue III, and the state of the series at this point in time. In a word, Shenmue III was a flop. It barely broke even, despite raising a ton of money via Kickstarter, and YSNet has since worked on a couple of smaller games: Air Twister and Steel Paws. Steel Paws only launched in 2025, and YSNet is not a big studio. So… when were they supposed to have worked on Shenmue IV? Neither game blew up, either, making Yu Suzuki and his team the kind of money they’d need to fund development on a bigger title like Shenmue IV.

That knowledge alone convinced me that the trailer couldn’t be real before I’d even seen a single frame. I watched the trailer a couple of times, though, more out of curiosity than anything else, and while nothing in the trailer itself leapt out at me and screamed “hoax,” I was still confident that it would be revealed to be fake before too long. As it happened, I think YSNet put out a statement within just three or four days, pretty much as soon as they were made aware of the situation. The hoaxer confessed and explained their reasoning shortly thereafter.

Logo for video game developer YSNet.
YSNet quickly disavowed the hoax.

I was a huge Shenmue fan back in the Dreamcast days, and I was left pretty disappointed when the series was abandoned and couldn’t be concluded. But, as you may know if you’re a regular around here, I didn’t pick up Shenmue III when that game eventually launched back in 2019. Why? Well, it’s simple – in my view, the game had *one* job: finish the story and bring the saga to an end. When it became clear that Shenmue III wasn’t going to do that, I genuinely couldn’t believe it. The idea that the game would either be a massive hit or that YSNet – which, by that point, had burned bridges with the fan community through things like a deal with the Epic Games Store on PC – would be able to launch another multi-million-dollar crowdfunding campaign just seemed impossible. If Shenmue III wasn’t gonna finish the story in 2019, then the story would never be finished. That was my belief at the time, and that’s why I didn’t buy Shenmue III.

And… am I wrong about that?

Shenmue III’s low sales were predictable. The port of the first two games didn’t sell well on PC or PlayStation 4 in 2018, and we’re talking about the sequel to a barely-remembered game on a platform hardly anyone bought. Did anyone expect Shenmue III to be “Game of the Year” in 2019? Really? On a crowdfunding budget?

Promo screenshot for Shenmue III showing Ryo practicing martial arts outside of a temple at night.
It always seemed beyond unlikely that Shenmue III would get a sequel.

Look, it’s a miracle that the latent Shenmue fan community was able to raise so much money to fund the development of a third game in the 2010s. And I know I don’t speak for anyone but myself, but surely there was an expectation that Shenmue III would bring the story to an end. That would have been a request so blindingly obvious that I wouldn’t have even stated it when the crowdfunding campaign was underway. But, for reasons that I still cannot fathom a decade later, Yu Suzuki was unwilling to make cuts to the game’s story, and genuinely believed Shenmue III would be a big enough hit that he’d be able to go on and make a fourth, fifth, or even sixth title. Would kids these days call that “delulu”?

The lack of any real news about Shenmue since the third game and the single season of the animated series really just proves that I was right, in 2019, to take the stance that I did. And although this hoax may have stirred the pot… I don’t think it’s really helped Shenmue IV’s cause as much as some folks seem to think.

Let me explain what I mean.

Promo screenshot of Shenmue III showing Ryo in the Tomato Mart store.
Can you hear the Tomato Mart jingle?

On YouTube, the fake trailer got just over 32,000 views in December. And it’s by far the most-viewed video on the subject of Shenmue in a while. But those really aren’t high numbers if you’re talking about launching a game that’s gonna take several years to develop.

Why was Shenmue never picked up in the 2000s? Why was Sega so keen to part with the rights to the series in the 2010s? Why did Shenmue III barely break even? And why was the anime cancelled after just one season? The answer is the same: there just isn’t enough of an audience for this story.

That’s why I was beyond disappointed when Shenmue III didn’t conclude the saga. Because I knew, even then, that getting another shot would be nigh-on impossible. Because I knew that, as loud and enthusiastic as some Shenmue fans can be, we’re a tiny – and, to be blunt about it, a shrinking – number. Because I knew that, when the game inevitably didn’t take off and didn’t attract a huge new audience, the chances of a sequel were basically nil.

Photograph of Shenmue series creator Yu Suzuki.
Yu Suzuki, the man behind the Shenmue saga.

And that’s why the hoax was especially cruel. The Shenmue fan community does what it can to keep the games in the public consciousness. Stunts like renting a billboard in New York or getting a hashtag trending on Twitter are all designed to provoke a reaction from the likes of Sega, YSNet, and anyone who might potentially have money to invest in a new game. And it’s great to see, more than a quarter of a century later, that these fantastic titles can still elicit such strong emotions. But I can’t shake the feeling that fans are just… shouting into the void.

Gaming the system to force a hashtag to trend, or encouraging the fandom to vote, en masse, for Shenmue in online polls can only go so far. And even these successes are muted – the hashtag may trend on Twitter, if everyone posts it at the exact same moment, but that’s just a quirk of how Twitter works. A few thousand tweets is all the community can muster, even under the best circumstances. And even then, it has to be a carefully-coordinated campaign; it isn’t an organic movement of people discussing this series and its future unprompted. And YSNet, Sega, ININ Games, and everyone else involved? They realise that.

Screenshot of Twitter/X showing the hashtag "Lets Get Shenmue 4" trending.
#LetsGetShenmue4 trends on X/Twitter once a month.
Image Credit: Shenmue Dojo on YouTube.

But all of that is for the birds. The trailer was a hoax, sure, and a fourth Shenmue game still feels out of reach right now. However, if the stars were to align and Shenmue IV ever did get off the ground, I have a few thoughts on what the game should look like.

First of all, the most important red line I have for Shenmue IV is the one that went unsaid in the 2010s with Shenmue III: this *needs* to bring the saga to an end. If there’s too much story left, too many chapters, and too much gameplay… well, figure out a way to cut it down. Have tighter levels instead of wide, open environments. Scrap mini-games and collectibles. Keep the game as tightly-focused on the core story as possible.

Cutting out content doesn’t mean losing *entire* chapters or one massive chunk of the story, either.

Concept art of Ryo from the video game Shenmue.
Concept art of Ryo.

Let’s say, hypothetically, that there are five “chapters” of Shenmue left, according to Yu Suzuki’s original plans. Instead of having to totally scrap three or four of them, we could cherry-pick the most narratively-important parts from all or most of them, and build the game around those. Some settings might have to change – instead of chasing Lan Di to a new city, Ryo might have to face him in the smaller village where he already is, for instance. But this kind of shortened story *is* achievable.

The very generative A.I. that the hoaxer used to create the fake trailer could be really useful, too. If we’re cutting down gameplay, some story moments can be told via cut-scenes, instead, and the possibilities presented by generative A.I. are truly impressive. Given that YSNet is an independent studio that would have to work to a tight budget, I think the use of A.I. tools is an acceptable sacrifice. It’d be controversial in some quarters, as anything to do with generative A.I. is at the moment, but it wouldn’t be insurmountable.

Still frame from Shenmue: The Anime showing Ryo and Fangmei.
Ryo and Fangmei from Shenmue: The Animation.

To continue my hypothetical, instead of having to totally scrap Chapters 7 and 8 in order to get to the end of the story, maybe our condensed version of Shenmue IV would combine the mystery of 7 with the boss fight from 8, fill in some of the gaps in between 8 and 10 with cut-scenes and a small explorable environment, and then bring us to Chapter 10, which would be cut in half and take place across a smaller map. Chapter 11 – the final one – could be more or less complete, depending on how big it’s supposed to be, and might be able to re-use some of the environments from either Shenmue III or from earlier parts of Shenmue IV.

That’s how you cut down this kind of game. It isn’t about one massive removal, but a succession of smaller decisions, keeping levels tighter, content more concise, and the narrative on the rails.

Screenshot of Shenmue III showing Ryo at a capsule machine.
Cutting out content (like collectible toys) is one way to ensure a fourth game could finish the saga.

It wouldn’t be totally true to the Shenmue style, and I get that. Some fans wouldn’t want to make that kind of sacrifice. But we’re more than six years on from Shenmue III, more than a quarter of a century on from the first game… and time’s a-ticking. How long are folks really willing to wait for a “perfect” version of Shenmue IV and V? As I wrote a couple of years ago: we mustn’t let “perfect” be the enemy of “good enough.”

Despite the hoax putting a cat amongst the pigeons in the fan community, and attracting a modicum of attention in the wider gaming press, I still don’t see a fourth Shenmue game happening, unfortunately. The interest just isn’t there with a wider audience, and without it, there’s no real prospect of an expensive single-player title making its investors much money. Even if the fan community could recreate the $7 million raised in the 2010s (which I *highly* doubt), that still wouldn’t be enough. And for YSNet, going to any investors seeking money for a game series that has failed three times and also produced an unsuccessful anime adaptation that was also cancelled? Yeah… you can see why they haven’t been successful, I guess.

Promo screenshot for Sonic and Sega All-Stars Racing showing Ryo.
Ryo on his bike in Sonic and Sega All-Stars Racing.

If I can see anything positive to come from this hoax situation, it’s actually that generative A.I. might, in the future, be able to be used by fans to create an ending to this tragically-unfinished masterpiece. If Yu Suzuki can’t manage to make a new game, maybe one day we’ll at least get an outline of where the story was supposed to have ended up – and fans, perhaps using A.I. tools, will be able to convert that story outline into some kind of animated movie or even a game. The fact that the trailer was good enough to fool a lot of people – including some journalists – says more about how far generative A.I. has come in just a short couple of years than it does about the grassroots support for a new Shenmue game.

I’d be thrilled if YSNet were to announce Shenmue IV, don’t get me wrong. And I’m sure that Yu Suzuki still hopes, one day, to be able to finish his magnum opus. But despite the attention the trailer picked up last month, I don’t think it’s really done much to help that cause, and – as with any hoax, really – it’s done more harm than good to the fans. People got their hopes up for the first time in years, only to crash back down to earth hard when it turned out to be based on a lie.

Promo screenshot of Ryo in Bailu in Shenmue III.
Ryo in Shenmue III.

Hopefully there won’t be any copycats, and hopefully folks will think a bit more critically if another supposed “leak” hits the internet. Because of how easy it is to use these generative A.I. tools, we all really ought to be careful and think critically about these kinds of things. A sign of the times, I guess.

I have a dedicated Shenmue page here on the website now. You can find it by using the menu above, or by clicking or tapping here. Now that we’re into Shenmue II’s big twenty-fifth anniversary year, I daresay I’ll be writing up my thoughts on that title before too long. And if I ever decide to play Shenmue III, I expect I’ll talk about that game here on the website, too. Though I personally doubt a fourth game is coming, I’m still crossing my fingers and hoping for the best. This hoax has been a big disappointment for a lot of people, and I don’t mean to add to that or stir the pot, but I wanted to air my thoughts on the future of Shenmue, since the fake trailer dragged it all up for me again. I hope this has been interesting – and not too depressing.


Shenmue I & II and Shenmue III are out now for PC, PlayStation 4, and PlayStation 5. Shenmue III Enhanced is due out sometime in 2026. The Shenmue series is the copyright of Sega, YSNet, and/or ININ Games. Some concept art courtesy of Shenmue Dojo. This article contains the thoughts and opinions of one person only and is not intended to cause any offence.

Does Shenmue Have A Future?

One of the first subjects I wrote about here on Trekking with Dennis almost five years ago was the Shenmue saga – Shenmue III specifically. With 2024 being the fifth anniversary of Shenmue III and the twenty-fifth anniversary of the first Shenmue… I thought it could be interesting to look at what – if anything – may lie ahead for the series.

For context, I played and loved both Shenmue and Shenmue II when I owned a Dreamcast just after the turn of the millennium. I was left disappointed by Sega and Yu Suzuki’s inability to conclude the story, as I found it incredibly fun and engaging. As I’ve said more than once here on the website, Shenmue was the first game I played that felt truly cinematic; as if its story would be right at home on the big screen. The combination of its open level design, realistic NPCs who seemed to have lives of their own, the modern-day setting, and engrossing narrative all came together to make it one of the best games I’ve ever played – and its sequel was just as good.

Screenshot of Shenmue I showing Ryo in Dobuita.
Shenmue’s world was unlike any I’d ever experienced in a video game before.

But here’s the thing: Shenmue was a failure. While critically acclaimed and spawning a vocal fan community that persists to this day, by every other metric the Shenmue saga completely failed. The incredibly expensive undertaking never came close to making its money back for Sega, and the failure of the Dreamcast meant that there was no way to recoup most of the two games’ development costs. Even a release of Shenmue II on Xbox didn’t help things. As bitterly upset as I may have been, I came to accept that this ahead-of-its-time masterpiece was underappreciated and would remain unfinished.

When Yu Suzuki and his independent development studio YSNet were able to buy the rights to Shenmue from Sega, it seemed as if things might be looking up. A Kickstarter campaign came along at just the right moment – when interest in crowd-funding was close to its peak – and the latent Shenmue fan community stumped up an astonishing $7 million with the hopes of concluding the saga. Backed up by additional investment from Sony, Epic Games, and others, it seemed as if the failed series was about to get one last chance.

Logo of YSNet.
Shenmue III was developed by YSNet.

A re-release of Shenmue I & II came to PC and PlayStation 4 consoles a couple of years ahead of Shenmue III’s launch. For the first time in well over a decade (since I put my Dreamcast and most of its games in a box in the attic) I re-played the games – and I had a blast all over again. But then came what I considered to be devastating news from YSNet.

The Shenmue saga was always planned as a multi-game story. Shenmue and Shenmue II told the first chapters, but there were several chapters still to tell. For reasons that, years later, I still find pig-headed and incomprehensibly stupid, YSNet was unwilling to adapt the planned story to make Shenmue III the saga’s finale. Instead, it would simply move the story along… presumably with the expectation of high sales or another crowd-funding campaign to keep Shenmue going. That always seemed completely impossible to me – and as much as I hate to say it, I was right about that. I didn’t even bother to buy Shenmue III in 2019, because what was the point? The game had, in my opinion, one job: to finish the Shenmue story. Yu Suzuki and his studio had been given a once-in-a-lifetime chance to do that by a dedicated group of fans… and they blew it.

Photograph of Yu Suzuki.
Yu Suzuki, creator of the Shenmue series.
Photo Credit: YSNet; ysnet.games

The re-release of Shenmue I & II (and no, I don’t consider it a “remaster” or anything close; it’s a port) didn’t sell particularly well on PC and PlayStation – which was an ominous warning sign for Shenmue III. When Shenmue III finally launched amidst controversy over its Epic Games exclusivity on PC, it also didn’t sell very well. It seemed to me as if most of the people who might’ve conceivably been interested in buying it had already backed the Kickstarter project – one of the benefits of which was a copy of the game upon release. In its first week, Shenmue III grazed the lower reaches of the PlayStation sales charts in Japan… but didn’t even register anywhere else.

I did eventually buy Shenmue III when it was on sale on Steam. I haven’t played it yet, despite owning it for a while, and I have no real plans to. But when it was on sale for £15 or so, it seemed like a reasonable purchase. And if there’s ever news of a fourth game… maybe I’ll get around to checking it out.

Promo image for Shenmue III with the game's logo attached.
I did belatedly purchase Shenmue III… but I have no plans to play it right now.

The way I see it, lacklustre sales for both the re-release of Shenmue I & II and Shenmue III demonstrate pretty clearly that this series has no mainstream appeal. Shenmue III was the last opportunity to change that – but again, the game failed to do so. So at this point, the remaining fans of the series are pretty much shouting into a void; tweet-a-thons that garner a few thousand posts at the very most feel like the last wriggles of a series in its death throes.

Shenmue’s anime adaptation also failed to bring renewed interest to the saga. I don’t have the numbers to hand, but Shenmue: The Animation ran for a single season back in 2022, and during that time, sales of the re-release and Shenmue III barely moved.

Still frame from Shenmue: The Animation showing Ryo and a female character.
There was an anime adaptation of Shenmue a couple of years ago.

Shenmue: The Animation was itself cancelled after just one season. Having adapted the story of the first two games, there was scope for a second season to dip into Shenmue III or perhaps even go beyond that… but the audience just wasn’t there either in Japan or in the west.

There was finally some Shenmue news just a few days ago, though. A new publisher – ININ Games, a company with a focus on older, retro titles – picked up the publishing rights to Shenmue III, and there’s been talk of potential ports to the Nintendo Switch and other platforms. This is by far the biggest news for Shenmue since Shenmue III’s launch back in 2019… and while I don’t expect it to really go anywhere, it’s at least noteworthy that someone, somewhere, thinks Shenmue is worth spending a little money on.

Promo image for Shenmue II showing Ryo in Hong Kong.
Ryo in Hong Kong.

At this point, twenty-five years on from the first game and five years after Shenmue III failed to light up the board, I really don’t see Shenmue IV ever getting off the ground. YSNet burned a lot of its bridges with members of the fan community with their first Kickstarter campaign, and with the decline of crowd-funding in general, raising millions of dollars that way seems like it’s off the table. With a clear and demonstrable lack of success with both the re-released titles and Shenmue III, getting significant outside investment also feels pretty unlikely.

However, the new publishing deal for Shenmue III and talk of a potential port of the game to a new platform has raised some hopes in the fan community. So let’s think about what Shenmue IV could and should look like.

Screenshot of Shenmue I showing Ryo and Santa Claus in Dobuita.
Meeting Santa Claus in Dobuita.

For me, the bottom line is this: Shenmue IV needs to be the end. I don’t care how many chapters Yu Suzuki originally planned in the ’90s. I don’t care how much of the story would need to be slimmed down or skipped in order to get to the end. At this point, if the stars align and through some absolutely miraculous good fortune Shenmue IV is able to get off the ground, it simply must bring the story to an end. That was what Shenmue III was supposed to do – and having failed again, there may not be another chance.

Shenmue IV won’t bring in new fans – not in any significant numbers, anyway. The re-release didn’t do that and neither did Shenmue III, so as much as I wish the games were held in higher esteem and celebrated more widely, it’s time to acknowledge that Shenmue is and always has been a niche product with a small audience. But that could be a positive thing! Without needing to worry about making a game with broader appeal, YSNet could tailor Shenmue IV to the built-in audience it already has, keeping things simpler for the team.

Promo image for Shenmue III showing Ryo driving a forklift.
A promo image for Shenmue III.

And there are ways to tell other chapters of the story if Yu Suzuki is still insistent on doing so. A book, graphic novel, or even a series of cheaply-animated YouTube shorts could cover whatever gaps may emerge from condensing two or three games’ worth of story into a single title. Shenmue IV wouldn’t need to cut out one massive chunk of narrative, either: it could pick up different pieces of the story with in-game cut-scenes covering the basics of the rest. In short, there are ways around this stumbling block – as there were in the 2010s when Shenmue III was being developed. Unlike last time, however, someone needs to come in and make cuts to the bloated story and gameplay – and if Yu Suzuki and his team can’t or won’t do it, then it needs to be an outsider.

I haven’t played Shenmue III and I’ve managed to avoid major spoilers since it launched. But clips of the game that I’ve seen have included things like mini-games, a stamina system that limited how far Ryo could run, and other such bloat. Cutting some of this stuff out to focus on the core narrative – that of Ryo’s quest to track down the murderous Lan Di – would go a long way to helping a hypothetical next title move along at a much more reasonable pace.

Screenshot of Shenmue III showing a tortoise race.
Cutting back on things like mini-games could help a future Shenmue game stick to what matters: the story.

There’s an expression that I think is relevant here: “don’t let ‘perfect’ be the enemy of ‘good.'” In this case, I will happily concede that a cut-down Shenmue IV with some of its QTEs, mini-games, and open-world exploration elements removed wouldn’t be the ideal experience. It wouldn’t be completely true to the Shenmue series, either. But if it finished the story – a story I began almost a quarter of a century ago – it would be worth it. I’ll make that compromise to see the end of Ryo’s story… and that’s what I genuinely expected would happen with Shenmue III. In that sense, I’ve already committed myself to and steeled myself against those kinds of compromises.

Both Yu Suzuki himself and some die-hard Shenmue fans evidently hate this idea. But my question to them is a pretty basic one: if it’s this cut-down game or nothing, what would you rather have? I know that, speaking for myself, I’d rather see the story brought to an end, even if the journey to that end point is shorter and less free-roaming than the first chapters of the story. If you don’t agree… how long are you willing to hang on in the hopes that the “perfect” version of Shenmue IV and Shenmue V that you have in your head will ever make it to release?

Wouldn’t something be better than nothing at all?

Promo wallpaper for Shenmue/Shenmue III showing Ryo raising his fist.
Them’s fightin’ words!

I’m not getting any younger. I’m the wrong side of forty and, as regular readers will know, I’m not in great shape health-wise. There’s a non-zero chance that I won’t be here in ten years’ time, and with arthritis already affecting my hands and fingers, my ability to play games is beginning to wane. In short… I don’t have the time to wait for a mythological Shenmue-loving corporation to step in and fund development. If I was Elon Musk I’d happily do it… but who has that kind of money just lying around?

Shenmue is one of my favourite games of all-time. More than that, it’s the game that showed me what interactive media could be in the new millennium, and at a time in my life where I might’ve begun to drift away from the hobby, it’s a title that kept me engaged and kept me playing. I love Shenmue and Shenmue II. And I would have given anything to see its story continue. But we’re at a point now where repeated failures and some poor decision-making have left the series’ future not so much uncertain as dead. Shenmue is, in my opinion at least, almost certainly not coming back.

Box art/promo art for Shenmue I showing Ryo, Shen Hua, and Lan Di.
I’d love to be wrong, but I don’t see a future for Shenmue right now.

Maybe you’re of the opinion that, even if it takes another quarter of a century, we should let YSNet do its thing and tell the story they want to tell in the way they want to tell it. I’m telling you now: I don’t have that kind of time. If this new publisher is interested in another game – and despite my scepticism, I hope that they are – then my only request is this: make it the final game. Finish the story somehow, even if that means cutting back on the scope of the narrative and/or gameplay. If Ryo is going to get a miraculous third chance that, from a business standpoint, he categorically does not deserve, then have the decency to finish his story and bring the Shenmue saga to a belated conclusion.

But that’s the same red line I had back in the 2010s, and YSNet blew it. Yu Suzuki and his studio squandered the best (and probably the only) chance they had to conclude Ryo’s story, and as much as I’d like to think they’ll get a reprieve… I still struggle to see it. Five years on from Shenmue III and I feel more justified than ever in my stance back then. I said in 2019 that I was unwilling to pick up the threads of that story only to end up disappointed for the second time when it’s yet again left incomplete – and with nothing beyond vague suggestions about what YSNet might like the next game to look like, as well as sales so underwhelming that they’d make any company baulk at the notion of signing on, I get to take a very bitter victory lap… one I really don’t want to take.

Promo image for Shenmue III showing Shen Hua.
Shenmue III was the best chance to tell the rest of the story.

If you asked me now, in November 2024, whether we’ll ever see a fourth Shenmue game, my answer would be almost certainly not. I don’t see how the series has a future, despite a new publisher signing on and talk of a potential Shenmue III port to another console. A few thousand remaining fans tweeting into the void isn’t gonna change that, because as loud and vocal as Shenmue fans can be, we’re a tiny and ever-diminishing number.

There are multiple tragedies in the Shenmue saga. The first game was light-years ahead of its time, pioneering a dense, lived-in open world years before anyone else even tried it. The world of those first two games still outpaces many modern titles in terms of depth and complexity. The demise of the Dreamcast and a player base that preferred faster-paced action-packed titles doomed the series… but that isn’t where the tragedy ends.

Screenshot of Shenmue II showing Ryo in Hong Kong.
The harbour in Hong Kong.

YSNet’s failure to recognise that the crowd-funding campaign was lightning in a bottle; a once-in-a-lifetime chance to bring a dead series back to life… that’s the final tragedy of Shenmue. Fans gifted Yu Suzuki a golden opportunity to conclude the story he started more than fifteen years earlier… and he blew it. He allowed “perfect” to become the enemy of “good,” and stubbornly refused to deviate from a planned multi-game series even when it should’ve been clear that there would never be another opportunity to bring Ryo’s story to an end.

I could’ve lived with Shenmue and Shenmue II as a disappointingly incomplete story; a millennial masterpiece that, for reasons beyond anyone’s control, would remain unfinished. But I’ve really struggled to forgive Yu Suzuki and YSNet for taking the incredible opportunity presented to them by the fan community and pissing it away on a frivolous, bloated, still-unfinished third game.

And as to the future? Maybe the jury really is still out. Maybe this ININ Games genuinely sees the potential in Shenmue IV. But until the game’s officially in production and ready to go, I’ll be sceptical. I’m pretty sure that this is where the Shenmue saga ends.


Shenmue I & II and Shenmue III are available now for PC and PlayStation 4. The Shenmue series – including all titles and properties discussed above – may be the copyright of YSNet, ININ Games, Sega, and others. Some images courtesy of Shenmue Dojo and IGDB. This article contains the thoughts and opinions of one person only and is not intended to cause any offence.