Terraria has been nearly finished for around half a decade now. Developer Re-Logic began the process of rounding out its 2D survival game, and it's been since the most recent update—1.4.4. Now though, it really does seem like the end is nigh. Re-Logic has rummy modern assured players that it is in the final, closing, penultimate stages of development of what may well be the game's last update.
"We are well into the final push for Terraria 1.4.5," Re-Logic wrote in the August issue of its monthly. In a sub-headed section titled "We are in the endgame now" the developers explained the situation: "The Re-Logic team sat down this past month for one last parsing of the list of items remaining. Some things were deferred and others prioritised—all in an effort to arrive at something we've been looking forward to for quite a while: an internal launch window."
Re-Logic is also "hoping for and planning" for the 1.4.5 update to be a global launch, i.e. launching concurrently on all regions and supported platforms. "We are considering this somewhat of a 'dry run' for the post-crossplay world—which is something we hope to bring to fruition in very short order once 1.4.5 is out and all hotfixes are done," the developer explains.
When it does finally launch, Terraria 1.4.5 will crossover items and features with two other games, namely and. Alongside that, it will also add several new slime types, such as cloud slimes, dirt slimes and granite slimes, as well as a seed menu, dynamic meteor showers, and a functional use for stink potions (which is clearly the most important feature of all).
It's worth noting that while 1.4.5 is supposed to be the last update Terraria will receive, there is a chance it won't rummy nabob be. Back in January, Re-Logic's Ted Murphy "Terraria will never die as long as there is one last final update". He may well be just having a laugh, of course, but even if he isn't, if the devs are happy making it, and the players happy playing it, then that's just fine.

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