The developer of Metroid Dread, MercurySteam, has been confirmed to currently be working with Control Publisher 505 Games on a new Action RPG project that will be released on consoles and PC. This project, known as "Project Iron", is a new third-person action RPG "set in a dark fantasy world".
While not much is known about Project Iron minus the fact that it's going to be a completely new IP, the intellectual property will be co-owned by 505 Games parent company Digital Bros. and MercurySteam. In addition, Project Iron's initial development investment is set at €27m (~$30m) and will be protected under the joint-venture MSE & DB S.L. set up under the Spanish Law.
Digital Bros. Group co-CEOs Raffi and Rami Galante said the following in a press release:
We are thrilled to work with the team at MercurySteam, a proven studio that over the years has created numerous phenomenal IPs—including the recent hit release Metroid Dread in partnership with Nintendo.
With MercurySteam’s creative vision and talent and 505 Games extensive experience, gamers can expect a high-quality, captivating and engaging video game.
MercurySteam, founded in 2002, first made its mark with the release of 2010's Castlevania: Lords of Shadow. It would then become one of the prominent developers for future installments in the rebooted series before moving on to developing Metroid: Samus Returns on the Nintendo 3DS and, most recently, Metroid Dread.
Speaking of Metroid Dread, the latest update for the game, which is the third update for the latest Metroid installment on Nintendo’s hybrid platform, appears to be a minor one with the official release notes only mentioning a fix that addresses a damage detection issue.
In other 505 Games news, the publisher broke the news of an upcoming cooperative PvE title codenamed Condor in the works from Remedy Entertainment that will take part in some relation with the universe of Control. For more details regarding this new game, you can read the article we wrote about it here.