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According to the official forums, the game is shutting down on the 29th of March. While this is sudden, it's not entirely unexpected. The game existed on a dead platform and hadn't seen anything in the way of a major content update in over 5 years. Still, the game had a decent amount of dedicated players (probably larger than the playerbase for Vanguard), and it's sad to see them loose a game they've put so much time into. For me, EQOA was the second MMORPG I've ever played and of all the MMORPGs that have shut down over the years, EQOA is the one I had devoted the most time to.
The game was and still is quite an impressive piece of technology given what they created out of what they had to work with. The gameworld was entirely seamless with loading screens only taking place during fast travel, and it was absolutely massive and quite beautiful in a certain sense. EOQA was a great old-school style MMORPG that served the EverQuest brand well for the years that it was active, and for EQ fans who have not had the privilege of exploring EQOA's massive landscape, I'm truly sorry that you will no longer have the opportunity.