IO Interactive has only just released 007 First Light, but the Danish studio’s next major move is already taking shape on very different ground. Project Fantasy not only takes the Hitman creators into fantasy for the first time, but is also being funded and published with an external partner, something IO has not done since Hitman 2 in 2018.

IO Interactive may be fresh off 007 First Light, but the Danish studio had already hinted at its future several years ago. A possible sequel to its James Bond game and a later return to the Hitman series remain open questions, while Hakan Abrak’s team is also working on the project codenamed Project Fantasy. This is the studio’s first major fantasy effort, which makes it a clear departure from the more realistic, modern settings where IO has built its reputation. The difference is not only about genre, either: according to the financial report, this game is not following the same strategy as 007 First Light, because it is being developed with an external publishing and financing partner.

The information appears in IO Interactive’s annual financial report. According to the document, the Hitman franchise continues to generate revenue through updates, sales periods, and community activity, but the studio’s main development efforts are currently focused on two areas: post-launch content for First Light and Project Fantasy. The latter remains in development, with no obvious public change in direction for better or worse, but it is being made in collaboration with an external partner. That detail matters because IO Interactive has not used this kind of arrangement since Hitman 2 in 2018.

The studio has not officially revealed the identity of that partner, but the decision itself marks a shift from 007 First Light. In this setup, Project Fantasy does not depend entirely on IO Interactive’s own funding, which reduces the potential risk for Abrak’s team. The studio is not self-publishing the game the way it did with the James Bond adventure, and can instead focus on development while part of the financial and publishing burden sits elsewhere. For a new fantasy IP, that makes sense: lower direct capital exposure, less risk carried alone, and more room to move on a project that is not operating on familiar IO ground.

So who could the partner be? Documents filed during the 2023 FTC versus Microsoft trial previously suggested that the Redmond company could be involved in funding or publishing the project. Neither Microsoft nor IO Interactive has publicly confirmed that, so it cannot be treated as fact. Even so, Microsoft remains one of the most likely names orbiting the project, especially for a larger fantasy game with online and multiplayer elements.

Project Fantasy Is Fantasy, but It Is Also Online and Multiplayer

IO Interactive’s caution is not random, because the project itself is riskier than it may first appear. Project Fantasy is a fantasy game, but it also includes online and multiplayer elements, which means this is not only about swapping modern cities and spycraft for swords, magic, or mythic environments. 007 First Light does not strictly follow the Hitman style, but IO’s DNA is easy to recognize there: situations, systems, player choices, reactions, and multiple outcomes. Project Fantasy is much farther away from that territory, because the studio wants to apply the same systemic design thinking to a fantasy world where the world operates according to rules, the player interferes, systems react to each other, and different outcomes emerge depending on the type of interaction or chosen path.

The game’s future remains murky for now. It is still in development, but it has no official title, no release window, and the latest financial report does not mention any concrete date or fuller reveal. What is already clear is that IO Interactive does not want to carry it with the same fully independent model it used for 007 First Light. A new fantasy IP, with online and multiplayer elements, backed by an external financier – that does not sound like a side experiment. It sounds like a major bet. We just do not yet know who is sitting on the other side of the table.

Source: 3DJuegos