Xbox anticipates Bungie's 'Matter' to launch in 2025.

TL;DR Summary
Microsoft expects Bungie's new IP, possibly called "Matter," to release in 2025, according to confidential documents released during the ongoing Xbox FTC trial. The documents also reveal that Bungie plans to open a new studio in Amsterdam by 2022 for ongoing support on Destiny 2 and development of the new IP. Bungie trademarked the name "Matter" in 2018, and previous teases suggest the new IP may be comedic and feature whimsical characters.
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