Well… that's disappointing. After gaining a lot of media support for their campaign, Project Rap Rabbit was unable to obtain their Kickstarter goal to help develop and launch the game. The game was being created by the same crew who made games like PaRappa The Rapper, Gitaroo Man, and Vib-Ribbon, with the goal of £855,000 ($1.07 million) to fund the project. Which, sadly, they did not meet as they only received £162,057 ($204k).
The group posted a message to their fans on the Kickstarter page letting them know how grateful they were, but also that they made some connections at E3 and things were looking hopeful. So sometime down the line, we may see an update about them hooking up with an indie developer, but it sounds like everything is in the air at the moment and it's too soon to say whether the project is dead in the water or will find new life.
Your excitement for Project Rap Rabbit has been wonderful to behold, but today we must sadly accept that our crowd-funding journey must end here. We knew that sourcing funds for a high-quality rhythm-action game would be tough, and though we knew that Project Rap Rabbit would be an incredible game, unfortunately we weren't able to do enough to prove that to the wider world.