Xbox Seems to Expect Bungie’s Mysterious IP ‘Matter’ to Release in 2025

Microsoft expects a brand new IP from Destiny and Marathon developer Bungie to release in 2025.

In previously confidential Microsoft documents released as part of this week’s ongoing Xbox FTC trial, Microsoft wrote about a new IP in the works from the studio.

“As of 2021, [Bungie] has more than doubled its headquarters space and plans to open a new studio in Amsterdam by 2022 for ongoing support on Destiny 2 and development of a new IP, currently expected to release in 2025,” Microsoft’s document reads in part.

Elsewhere in this document, Microsoft notes that Bungie trademarked the name “Matter” in 2018, which it believes may be Bungie’s next original IP.

This document is filled with evaluations of various developers and publishers from around the industry, as Xbox was seriously considering acquiring companies like Sega, Bungie, and IO to fill its content gaps. Bungie, of course, is no longer on the table, as PlayStation scooped up the Destiny dev in 2022.

There have been teases of Bungie’s mysterious new IP over the last few years. In 2020, a job listing hinted that the new IP will be “comedic” and feature “whimsical characters”, while Destiny 2’s former director said Bungie hid a hint about its next project somewhere within the game.

Since then, Bungie has announced Marathon — an extraction shooter revival of the classic sci-fi series — so it’s difficult to parse which of Bungie’s teasing was in reference to Marathon, and which could have possibily been hinting at a still-unannounced new IP.

Check out our full recap of last week for everything that’s happened so far during the Xbox FTC trial.

Logan Plant is a freelance writer for IGN covering video game and entertainment news. He has over seven years of experience in the gaming industry with bylines at IGN, Nintendo Wire, Switch Player Magazine, and Lifewire. Find him on Twitter @LoganJPlant.