There's no denying that Bungie is quite adept at building new gaming worlds. It created the universe of Halo, which went on to become Microsoft's biggest franchise (if you don't count any of the franchises that Phil Spencer and company have from the newly acquired Bethesda or Activision.) Then Bungie went on to make the Destiny series, which is still going strong today and even just released The Witch Queen, its fourth major expansion that has received rave reviews.
Considering that they've struck gold twice already, there's good reason to be excited about a potential new intellectual property coming from the creators of Master Chief. We don't know what they have planned yet, but a quick glance at the job listings on their website may have given us an idea about what they're working on.
Quite a few of the careers available at Bungie all specifically state that they're for this mysterious unannounced project. Two of the most notable posts are for an incubation contract level designer and an incubation contract environment artist. Both jobs have "experience working on character-focused third-person action games" and "familiarity with the competitive gaming landscape/esports" listed as desired skills. That's not a lot to go off of, but it sure looks like this new game might be some sort of third-person, multiplayer title.
It may seem odd that Bungie could be creating a third-person game as the company is primarily known for its first-person experiences. However, both of its successful series have featured moments of third-person action such as driving a Warthog in Halo or wielding a sword in Destiny. So having an entire game where you get to see your space soldier run around and shoot aliens doesn't seem too outlandish.
Regardless of what Bungie's new IP ends up being, it's going to have a fairly large budget behind it after they were acquired by Sony back in January for around $3.6 billion. Sony has stated that it plans to launch 10 live-service games by 2026, and Bungie is going to be instrumental in helping them achieve that lofty goal. It's even possible that this third-person title could be one of them. Combined with their intentions of taking the Destiny universe and spinning it off into TV shows and films, it seems like we're going to be getting a lot of Bungie news in the not-so-distant future.
Of course, that future isn't exactly close either as this new project isn't expected to be finished until 2025. So don't expect to wander around Bungie's new world for at least a few years.