Black Budget: PUBG’s Mysterious Time Loop Shooter Opens Alpha Signups For December
November 23, 2025PUBG Studios is shaking up the extraction shooter scene next month with its ambitious new project: PUBG: Black Budget. Players in North America, Europe, and Asia can jump into the first closed alpha test on Steam across two short windows in December. The studio is pushing the genre forward by flipping the script, from survival and relentless gunfights to a game that puts exploration and discovery front and centre.
Set on a mysterious island caught in a supernatural time loop, Black Budget isn’t just following the leaders. It’s gunning for the top, directly challenging heavyweights like Arc Raiders and Escape from Tarkov. Even lighter fare like Escape from Duckov and recent blockbuster shooters from the Battlefield and Call of Duty stables are in PUBG Studios’ crosshairs. The studio wants players to see there’s more to extraction shooters than the same old high-stakes firefights.
Closed Alpha Dates and What to Expect

The first chance to play comes on December 12-14, with a follow-up session on December 19-21. That’s two consecutive weekends where you can sign up for access straight through Steam. If you want in on the action, you’ll need to act fast, as access is limited and only available in select regions.
PUBG: Black Budget is promising to be more than just another session-based shooter. Krafton’s 2023 financial report first let slip what was then known as ‘Project Black Budget,’ teasing an “ever-changing PvPvE open-world and satisfying gunplay that deliver unpredictable and exciting experiences.” That’s a tall order, especially when veterans of the genre are all fighting for players’ time and attention. The game’s release date is still TBA, but this upcoming test could be the moment fans have been waiting for their first real taste of PUBG Studios’ latest gamble.
A Genre Ripe for Disruption
Extraction shooters are hot right now, and PUBG Studios is clearly ready to throw its weight around. Rather than piggyback on survival formulas, Black Budget puts the spotlight on exploring uncharted spaces and uncovering secrets within a world that resets itself in mysterious ways. The creative pivot is a strategic gamble against genre titans like Escape from Tarkov, which keeps players on edge with punishing, high-stakes combat. Other contenders like Arc Raiders are also fresh, but Black Budget’s supernatural twist and looping world give it a shot at carving its own niche.
PUBG Studios seems keen on channelling the hype that’s brought new attention to extraction shooters in recent months. By leaning into the successes of its rivals, the studio might finally propel Black Budget beyond vaporware rumours and into players’ hands. All eyes will be on how these alpha tests shake out and whether the game can sustain excitement past its launch window.
How to Get Involved

If you’re itching to dive in, sign-ups are live on Steam. Whether you’re a die-hard shooter veteran or just curious what the genre’s next evolution looks like, Black Budget’s alpha is shaping up to be a must-watch event this holiday season.
- Closed alpha test dates: December 12-14, December 19-21
- Regions: North America, Europe, Asia
- Platform: Steam
- Release date: TBA
It’s rare to see a major studio take a meaningful swing at a crowd this demanding. If PUBG Studios delivers on even half its promises, the genre could be looking at its next major shakeup.



