Tonight, startup developer Phoenix Labs announced their first title: Dauntless. On their website, Phoenix Labs describes Dauntless as a co-op, action RPG. Unfortunately, the trailer shows no gameplay and "action RPG" has been used to describe so many different games, it's almost meaningless. Action RPG covers everything from Dota 2 to Diablo III to Monster Hunter.
Given Phoenix Labs boasts alumni from both League of Legends developer Riot Games and Mass Effect developer BioWare, their talent pool doesn't narrow things down much, either.
Given the title's slick art style, I personally hope we aren't looking at another League of Legends (or even Smite) style MOBA. At first glance, the title would almost certainly stand out better in another genre, and RPGs you can play with your friends are in short supply without dipping one's toes into the realm of MMORPGs.
With their website's emphasis on big nasty monsters and crafting loot, we can make a guess at the game's basic form: Hunt monsters with your friends, harvest materials, craft better loot, fight better monsters, and harvest better materials to continue the cycle. On one hand, that could end up being rather shallow. On the other hand, if the gameplay is good enough, does that matter?
In any case, the game is slated for a 2017 release. Given we're at the tail end of 2016, that could be anywhere within the next 12 months.