By Ryan Matsunaga (staff@latinospost.com) | First Posted: Mar 14, 2013 04:14 PM EDT

It's not a good day for Mega Man fans, as Neowiz has officially announced that is has cancelled Mega Man Online.

Mega Man Online, also known as Rockman Online, was originally announced in 2010. However, the game's official blog hasn't seen an update since March 2012, leading many to believe that the game was no longer being developed. The game was to be set in the distant future, after the Mega Man and Mega Man X timelines, with gamers playing as copies of the series' heroes who were created to fight off a robot invasion.

Speaking with the Korean gaming website This Is Game, a spokesman from Neowiz explained that "Both companies have continually discussed to find agreeable points on quality, development time, communication and etc. Ultimately, both companies have agreed to stop the development of Rock Man Online last early November."

In 2011, Capcom cancelled two other Mega Man titles, Mega Man Legends 3 and Mega Man Universe, which coupled with this news, may not be a good sign for the franchise. However, late last year, Capcom senior vice president Christian Svensson assured gamers that the character would be returning soon.

He stated, "I can say with certainty that you've not seen the last of the Blue Bomber on consoles and handhelds, and, with luck, we'll be celebrating his 50th anniversary, including all of the games you're going to enjoy over the next 25 years."

There's no word yet if Capcom is still interested in pursuing another online Mega Man title, or if any of the assets from the year-long production would be made public. The last Mega Man game to be released was Rockman Xover for iPhones and iPads, which was launched on November 29, 2012 in Japan. Due to an overall negative response from fans however, the game was never released in North America.

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