We’ve learned a new indie studio has opened up, and it has some serious talent already.

The new studio, OnceLost Games, has been founded by the designers behind the original Elder Scrolls game, The Elder Scrolls: Arena. Unsurprisingly, their first game will also be an open-world RPG like their pedigree.

The studio was founded by Ted Peterson (one of the original designers on The Elder Scrolls), Julian LeFay (director on The Elder Scrolls: Arena, Daggerfall, and Battlespire), Vijay Lakshman (lead designer and producer of The Elder Scrolls: Arena), and Ian Phoenix, a veteran video producer, marketer, and graphic designer.

While details are scant, the above piece of concept art is prominently displayed on their studio’s home page, with the following caption: “High contrast image of Excalibur, sword in the stone with light rays and dust specs in a dark cave.”

Their actual description for the game is that it will be a “massive open-world fantasy adventure” and that it will “boast revolutionary technology and game design.” Could their first game be one based on the classic Arthurian legends? Only time will tell.

We’ll keep you guys posted.