Masthead Studios was founded in 2005 in Bulgaria

Bulgaria

Bulgaria , officially the Republic of Bulgaria , is a parliamentary democracy within a unitary constitutional republic in Southeast Europe. The country borders Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, as well as the Black Sea to the east...

 and is a game-development studio focused on creating next-generation MMORPGs

Massively multiplayer online role-playing game

Massively multiplayer online role-playing game is a genre of role-playing video games in which a very large number of players interact with one another within a virtual game world....

. They are currently expanding development of their own project, Earthrise

Earthrise (video game)

Earthrise is a science fiction Player vs Player MMORPG by the independent Bulgarian team Masthead Studios released on February 2011, it is Masthead's first video game....

, which was released on Feb 2011. This is to fix many bugs and enhance player gameplay as when the game came out it was met with negative response. In addition it was recently announced (April 2009) that they would be developing Fallout universe-based MMOG

Fallout Online

Fallout Online is an upcoming massively multiplayer online video game set in the Fallout world that is being developed by Masthead Studios and being published by Interplay, with members of the Interplay team providing creative control and design...

.