R8 Games, a new independent studio formed by developers who previously worked on Sony's futuristic racing series Wipeout, has released a short video showing off its new project, Formula Fusion.

Not surprisingly, it's another futuristic racer that looks a lot like Wipeout. R8 Games says that what we see in the video above was created in just a few months, and is mainly a visual prototype, not a fully balanced gameplay example. R8 hopes that the video will "stir things up with publishers" and generate interest to provide funding opportunities.

You'll notice that the logo in the video calls it "Slam Jet." R8 said that this was what it called the project initially, but that it's in the process of changing the branding.

R8 calls Formula Fusion a "huge" project that it can't complete without help.

"Things have changed in the games industry now," the R8 team said on the Wipeout Zone forums. "Very few publishers actually believe in AG Racing as a valid next gen genre, so we are trying to convince people of the potential, and to set up a studio staffed with other ex-Wipeout devs (with some new wipeout dev talent of course) to hopefully carry the torch again. But this time being much more open with the community."

The last Wipeout game, Wipeout 2048, was released on the PS Vita in 2012.

Are you itching for another futuristic racing game like Wipeout? Let us know in the comments below.