The first game developed under the Cryo Interactive moniker was the hit Dune, which granted the newly-formed software company both publicity and funding for further games under Virgin until 1996, when Cryo started self-publishing inside the European market, and in North America through then partially-owned Canadian publisher DreamCatcher Interactive.
Cryo made its name mostly through adaptations of already existing stories (such as Riverworld, based on Philip José Farmer's novel and Ubik by Philip K. Dick) or those based on historical scenarios (like KGB, a game set days before the collapse of the Soviet Union and several games based in Ancient Egypt, Qing Dynasty's China and Louis XIV's France, developed with Cryo's Omni3D engine). Although most of the post-Virgin games managed to capture and stay true to the original settings, poor interfaces and the lack of worldwide distribution turned little profit from each game.
In 2002, not long after Frank Herbert's Dune flopped, Cryo's situation was no longer sustainable, and the company was declared bankrupt. After much negotiation, most of the assets and development teams of Cryo Interactive were absorbed by DreamCatcher Interactive, forming the base for DreamCatcher Europe.
Cryo Networks was dismantled in 2002, shortly earlier than its parent company, leaving its then-ongoing project Dune Generations unfinished. The SCOL technology was subsequently released as an open source project.