It has been rumored for many years now that Bioware is working on a brand new IP, but the details were always sorely lacking. While I'm afraid that last part still remains true, I am glad to say that Bioware has officially confirmed they are not only working on a new IP, but that they have been working on it for nearly five years now!
If you're interested in the specifics, what little of it there is, here's the full quote from Bioware's Studio General Manager Aaryn Flynn:
"As we’re working hard to finish Mass Effect: Andromeda, I wanted to take a minute to talk about our new IP. As our CEO Andrew Wilson mentioned, we’re creating a unique IP that will bring players together in exciting new ways.
There’s much more to say in the coming months, but for now, I wanted to offer this additional background.
In 2012, we began crafting a new universe full of new characters, stories, and gameplay. Our ambition is simple: Draw upon 20+ years of development knowledge and lessons to create something fun and new for you to enjoy with your friends.
There’s nothing quite as exciting as building a new IP from scratch, and it will be even more thrilling for us to share more with you in the future."
As I've mentioned above there is no concrete information about this new IP, but according to some of the previous rumors its going to be an online shooter with RPG elements. While this rumor is by no means trustworthy, I can certainly see the logic behind it. Five years is a rather long development time for most games, but if Bioware is trying to cook up some sort of MMO hybrid then the number starts becoming far more reasonable.
Whatever the case may be we're going to have to wait until after Mass Effect: Andromeda to learn more, because it just doesn't make a whole lot of sense for Bioware to compete with itself right now. And speaking of Mass Effect: Andromeda, the second cinematic trailer recently arrived, so if you feel like checking it out you can find it here. Enjoy!