Kaio: King of Pirates, the 3DS game by Mega Man creator Keiji Inafune, has been cancelled by publisher Marvelous.
Kaio aimed to tell the Romance of the Three Kingdoms saga using anthropomorphic animals. It was planned as a trilogy and was originally going to be a multimedia IP, but for whatever reason that didn't pan out. I guess penguin pirates just aren't in vogue at the moment.
Here's the reveal trailer for Kaio, giving us a brief glimpse at what could have been.