Sony announces new studio formed by ex-Bungie, Riot, and Epic developers, TeamLFG

Sony has announced that a number of former Bungie employees have formed a new studio called TeamLFG, which includes both new and veteran developers from across the industry.
The details:
TeamLFG is the latest first-party Sony studio that "originated at Bungie, but has also rallied developers from across the industry to bring to life an ambitious incubation project," according to SIE Studio Business Group CEO Hermen Hulst. In a new blog post announcing its formation, the studio confirmed that its name originates from the common multiplayer term "Looking For Group" and that it intends to create "immersive multiplayer worlds propelled by action games that players can learn, play, and master for countless hours."
The studio is made up of both "industry newcomers" and developers who have previously worked on titles such as League of Legends, Halo, Fortnite, Roblox, and the VR title Rec Room. It is physically based in Bellevue, WA, similar to Bungie, but has remote employees spread across the US and Canada.
TeamLFG describes its first project as a "team-based action game that draws inspiration from fighting games, platformers, MOBAs, life sims, and frog-type games." It added that it will take place in a "lighthearted, comedic world set in a brand-new, mythic, science-fantasy universe," and based on the blog post, it will most likely be a live-service title.
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