According to Bleszinski himself in an interview with Gamerhub, he says that, “Right now I’m looking at procuring funding for a new project. Expect some news, hopefully in the next four to six weeks.”
While he didn’t get into any specific details, he did say that the funding would come from a private investor or venture capital firm; and Bleszinski says that the new title would also have a crowd funding component. The crowd funding aspect would help ensure success and lessen the possibility of failure, thus lessening the overall risk of the project.
Bleszinski would like to bring the project directly to consumers and bring gamers into the development. He thinks this is possible with a pay-for-alpha or pay-for-early-access programs as part of the mix. This helps build not only a community to support the game, but it allows the community to help shape the game.
We assume that Blezinski will be leading a new studio of his own in the production of this game; it does not look like he will be partnered with a publisher, but will instead use the indie route to get the end result to the people. We hear rumors that it might be a PC-only offering that could be an arena-based shooter of some sort. Of course, these are only rumors at this point, and we think it is too early to rule anything out.