Brand new PS5 IP being tested at PlayStation's London Studio

Sony Interactive Entertainment's London Studio has stated that it is hiring developers to work on a new intellectual property (IP) for PlayStation 5. This will be the first-ever indication that London Studio's PS5 project will have a new IP. London Studio is one of the long-running PlayStation first-party team which made SingStar series most famous during PlayStation 2 era. The studio has worked on various peripheral-based PlayStation games for both the EyeToy camera and, recently, PlayStation VR.

London Studio's last game, Blood & Truth, became the first VR to reach number one position on the UK physical software charts after its release in 2019. Now, London Studio is working on an exclusive PS5 game with a multiplayer component based on recent reports. London Studio's website indicated that its unannounced PS5 game would be a new IP.  It is said that Leading VFX Artists and Technical Artists are working for a "brand new, next-gen IP."

It is still a mystery what London Studio is working on, but reports suggest that they are working on an unnamed sequel to the PlayStation VR headset, which will launch sometime after 2021. Regardless of when the game launches, PlayStation has announced that a PSVR successor is in the works, and it will unveil new controllers and six new games coming to the current iteration of PSVR this year.