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IO Interactive’s Next Major Game Is Not James Bond or Hitman, but the Online RPG ‘Project Fantasy’
May 30, 2026IO Interactive’s next flagship release after 007 First Light will not be another James Bond or Hitman title, but a brand-new online fantasy RPG called Project Fantasy, which is now in active development and led by IO co-owner Christian Elverdam.
IO Interactive, the award-winning studio behind the Hitman and 007 First Light franchises, is developing a new IP named Project Fantasy, confirmed as its biggest project after the 007 launch and larger than the Hitman team at this stage. According to IO’s chief development officer, Véronique Lallier, “the team is ‘bigger than the Hitman one at the moment but smaller than the 007 First Light one.’” She explained that, while staffing may shift now that 007 First Light is out, IO is “deep in active development” on Project Fantasy, with artwork already displayed in its Brighton studio and animation work underway.
Project Fantasy: New IP, New Direction
Project Fantasy was first announced by IO Interactive in 2023 with its scope described as “an online fantasy RPG,” designed as “a world and game built from the core to entertain players and expand for many years to come.” The studio has not clarified whether this will be a massively multiplayer or shared-world title, but in interviews, IO leadership emphasised its ambition and originality.
Lallier noted, “Christian is really close to Project Fantasy with regard to creative vision and approach… there is a common passion [among] our studio management in general about Fantasy, but Christian is very close to this project and it’s very important for us to do things differently.” The project is led creatively by Christian Elverdam, IO’s co-owner and chief creative officer. IO Interactive CEO Hakan Abrak led 007 First Light, with each managing a separate flagship production.
A single publicly released artwork for Project Fantasy depicts an elf, human, and dwarf trio, classic fantasy archetypes, standing at a cave’s edge and overlooking a verdant, mountainous world. The image features the phrase “Looking for more!” hand-scrawled at the bottom, referencing the common multiplayer search in online RPGs.
Short developer videos released with the Project Fantasy announcement capture the project’s ambitions. IOI’s lead sound designer, Joshua Smith, stated, “We’re trying to create something that I think doesn’t exist in the space, currently. It’s a world where we’re going to allow you to be things you could never be. IOI is known for Hitman and things like that and this is a completely different direction.”
Lallier reaffirmed IO’s commitment to originality: “Something that IO is well established for is always coming with different game experiences, leveraging technology and everything, and Project Fantasy is a new IP and that’s something we’ve always been very excited about at IO. We had Freedom Fighter, Mini Ninjas, all those different games, and it’s always original IP. I think actually 007 First Light is the only game in an established franchise.”
Studio Focus and Risk Factors
Despite the team’s current Project Fantasy focus, IO will keep a dedicated workforce on 007 First Light, reflecting prior support provided to Hitman post-launch. Lallier confirmed, “IO does intend to keep a healthy 007 First Light workforce around, I was told, to support it in a similar way IO has supported Hitman in the past, with a steady stream of new gameplay experiences.” She added, “Partly the team is there to address any launch issues there are with the game, but also because of the plan IO has to keep you playing 007: First Light long after the credits roll.“
Lallier also offered perspective on the studio’s timeline, clarifying, “It’s a project that we’ve been starting, I think, post-Covid“, which matches industry rumours from 2021 about IO pursuing a fantasy game. This timing puts Project Fantasy’s initiation in line with industry trends toward online multiplayer, despite such projects’ notorious cost and complexity.
The broader context emphasises risk: recent high-profile online multiplayer launches such as New World, Anthem, Concord, and Destiny 2 have faced major commercial and technical challenges. Project Fantasy enters a competitive landscape where persistent, engaging multiplayer experiences are hard to pull off at scale.
Project Fantasy: Key Facts
- Developer: IO Interactive
- Genre: Online fantasy RPG
- First announced: 2023
- Project lead: Christian Elverdam (Chief Creative Officer & Co-owner, IO)
- Current team size: Larger than Hitman team, smaller than 007 First Light team (as of 007’s launch period)
- Status: Active development, with ongoing hiring and production
- Notable artwork: Features classic fantasy party (elf, human, dwarf) with the call “Looking for more!”
- Official website and videos: Display early announcement material and developer discussions
Project Fantasy represents IO Interactive’s return to original IP, following the studio’s legacy with titles such as Freedom Fighters and Mini Ninjas, and intentionally diverges from its work on licensed properties like James Bond. Lallier concluded, “So yeah, Project Fantasy is really, really close to our heart, and it’s a very exciting project, but we’re not talking too much about it, because at the moment, really, the focus of the studio is launching 007 First Light.”
With studio leadership split between two ambitious titles, and a clear strategic commitment to supporting both legacy and new properties, IO Interactive is positioning Project Fantasy as their next major innovation in online gaming.
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