Capcom's Yoshinori Ono reveals Deep Down, a new IP from the developer powered by its new Panta Rhei engine.

When Capcom's own Yoshinori Ono took the stage at Sony's PlayStation 4 announcement press conference in New York City, fighting fans around the world held their breath in anticipation. Could this finally be the announcement of the long-teased return of Darkstalkers? Or the next Street Fighter? Or maybe, just maybe, a new Cyberbots?

Capcom's answer: none of the above. Instead, Ono presented the company's new graphics engine, the Panta Rhei engine. This new technology is being developed alongside an entirely new intellectual property: Deep Down.

Deep Down (a working title) is the latest in the developer's growing stable of new IPs, joining the likes of Dragon's Dogma and the upcoming Remember Me. Speaking of Dragon's Dogma, Deep Down seemingly shares several similarities with the third-person action role-playing game. Both have a pseudo-medieval aesthetic, a mix of swords and sorcery, and an abundance of fire-breathing baddies.

Before you gather your pawns and start venturing forth, know that there aren't any release details available for Deep Down just yet (the game's name isn't even finalized, after all). But stay tuned to GameSpot for more updates as they develop.

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