Metroid Dread developer MercurySteam has announced that they are working on a new game

MercurySteam, the developers of Metroid Dread, announced that they are working on a new game, “Project Iron,” co-published and co-developed by 505 Games.

According to the press release, the new game, currently codenamed “Project Iron”, is a “third-person action RPG set in a dark fantasy world”, based on a new IP owned by MercurySteam and Digital Bros, the parent company of 505 games.

In the announcement, it was revealed that the pair of developers had an internal development budget of 27 million euros, which is about 23 million pounds.

“We are delighted to be working with the team at MercurySteam, a proven studio that over the years has produced many phenomenal IPs – including the recent hit release Metroid Dread in partnership with Nintendo, ” said Raffi and Rami Galante, co-CEOs of Digital Bros.

“With MercurySteam’s creative vision and talent combined with 505 Games’ rich experience, gamers can expect a high-quality, engaging and engaging video game.”

It’s currently unclear when “Project Iron” will launch, but when it will be available worldwide for both PC and console.