Square Enix announced a new IP that is cur­rent­ly code named Project Pre­lude Rune. The game is said to be an “Ani­met­ic RPG”. Square Enix gave this descrip­tion for the game.
 

A new RPG with a new fan­ta­sy: unfold­ing across a vast land teem­ing with life. Nur­tured by the earth, the many peo­ples of this land dare to dream, fight­ing for what is just—and this is their tale.” 

Project Pre­lude Rune is being made by a new­ly formed stu­dio that will be head­ed by Tales series pro­duc­er Hideo Baba. Stu­dio Isto­lia is owned by Square Enix and com­prised of most­ly new hires. The goal of the new stu­dio is said to be cre­at­ing “unfor­get­table sto­ries” that inspire peo­ple and to cre­ate “new game expe­ri­ences”.

As of now there are no fur­ther details on the game. This like­ly means the game is still in the very ear­ly stages of devel­op­ment and won’t be com­ing any­time soon.

Square Enix released these three images along­side the announce­ment.