It’s update time for Persona 5 The Phantom X. The Ver. 2.5 update for title adds a new five-star (5★) Phantom Thief Masaki Ashiya (voiced by Takafumi Maeuchi), making their debut in the game. On top of that, SEGA has also released Season 1 of the title’s new card game content: Tycoon.
In the last update, Ver 2.4, our critic said, “The story is genuinely fantastic, rivaling some of the most interesting in the entire franchise. New characters that redefine the meta as they arrive in Chord and Futaba make multiple team compositions possible. With the conclusion of Version 2’s story on the horizon, it’s the perfect time to jump in.”
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Now, let’s get into what’s new in the Ver 2.5 Update for Persona 5 The Phantom X.
What are the Most Wanted Phantom Idol Contracts?
The Most Wanted Phantom Idol Contracts will begin in Ver 2.5 now (November 11, 2025) through 10:50PM UTC on December 24, 2025. During this, the appearance rate of certain Phantom Thieves increases, allowing you to catch them.
This is one of the title’s gacha mechanics and a limited-time gacha banner. In the past, the Most Wanted Contracts have featured characters like Makoto Niijima (Queen), Yusuke Kitagawa (Fox), and Futaba Sakura (Navi) in the future.
Watch the Phantom Idol Trailer
Who is Masaki Ashiya?
Code Name: Cherish, Masaki Ashiya will be featured in the Phantom Idol Contracts through December 24th with his exclusive five-star weapon, Spina Sacramenti, available from Arms Deals: Silent Pistol.
When it comes to the character, Masaki Ashiya is an ice-attribute Guardian-role character. He supports his allies on both offense and defense and can provide powerful shields and increased Defense to allies, raising their survivability, while also boosting the damage they deal.
A valuable support character, this is one character you will want to pick up. Given his large support role, it’s clear that he will perform well enough in just about any party. However, pairing him with other ice attribute allies ensures high survivability while allowing him to demonstrate his damage support capabilities. So, it’s time to get icey if you want to get the most out of this character.
SEGA has also released a character spotlight trailer for Masaki Ashiya, which you can watch below:
New Content in Version 2.5 Update – Tycoon Season 1
Tycoon is the latest gameplay addition to Persona: The Phantom X. A card-based game, you and three other players compete to discard your cards the fastest. Each match you play and win earns Tycoon Points based on match results.
The Tycoon Points can be exchanged for items like:
- Invitations that unlock Phantom Thieves you can play with in Solo Mode
- Custom cards for customizing your deck’s appearance
- Gold Tickets that can be used for contracts to use the game’s gacha mechanic
Tycoon Season 1 also has two modes that you can play.
- Ranked Match: Ranked Matches will put you into three 4-player games, with points and stars being awarded based on the match results. In true Persona fashion, your rank is determined based on the number of stars you earn. You also earn Meta Jewels, used for Contracts, and other rewards for increasing your Rank throughout Season 1.
- Solo Mode: The solo mode is where you can take it a little easier. In it, you play against the CPU. You can select to play one or three games, and there are three difficulty levels to choose from. Three of the Phantom Thieves that you’ve unlocked are selected at random as your opponents for the match.
New Event: Super Tycoon
During the event period, you can get exclusive Tycoon Medals by playing Tycoon. Once you collect enough Tycoon Medals, you can trade them for rewards like Meta Jewels and Fortune Revelations.
Tycoon Season 1 runs through December 24, 2025 at 10:59 PM UTC.
Log In Rewards For Ver 2.5 Update
As with any launch, there are rewards and bonuses for players to snatch just by logging in. Additionally, there will also be updates and stream rewards for players to claim, which will be available through December 6, 2025.
- Log In Bonus: Ver 2.5 comes with a celebratory login bonus. Players who log in for 7 days during the event period will receive 7 Platinum Tickets, usable in specific contracts.
- Stream Gift: SEGA will be sending players 300 Meta Jewels to commemorate the Ver. 2.5 update and another 300 for watching the official Persona X-Stream Ver. 2.5 & 2.6 broadcast as a thanks to the community.
What is Persona5 The Phantom X?
Jump into the thrilling double life of a seemingly ordinary high school student in Tokyo. Make the most of student life in Japan by hitting the bustling cities of Shibuya, Shinjuku, and Kichijoji. Once the bell rings, don the mask of a Phantom Thief and infiltrate the hidden realm of the Metaverse to take on the dark beings that lie within.
If you’re new to the Persona gacha game, here’s what you need to know. In Persona 5 The Phantom X you’ll go through your daily routine as you would in any of the franchise’s titles. Go to school, join an after-school club, take on a part-time job, go on dates, and hang out with friends.
These last two bits let you establish relationships with characters around you, keeping in line with Persona’s RPG style. But at night, you can step into a completely different world where you face enemies and awaken your Personas.
Persona 5: The Phantom X is available now on PC and mobile (iOS and Android).
