Source: Sony-centric game site PlayStation LifeStyle.net.
What we heard: As the 2009 Electronic Entertainment Expo approaches, the game-industry rumor mill is spinning up faster than the Battlestar Galactica's warp drive. Hot on the heels of speculation about a PS3 slimline and game-enabled Zune phone comes footage of what purports to be the next game from Team ICO, the Sony Japan-based developers behind ICO and soon-to-be-movie Shadow of the Colossus.
As can be seen above, the game in question--if it indeed exists--is called "Project Trico." It also appears to be in a very early stage of development, with mismatched lighting and unpolished graphics--by PlayStation 3 game standards, anyway. The score is also placeholder music, lifted from the Coen Brothers' 1990 cult classic film Miller's Crossing. However, the trailer does resemble the teaser image (pictured) for the game that accompanied an August 2008 job listing (since removed) for the next project for Team ICO.
The official story: "We've made no announcement of anything called 'Project Trico.'"--Sony Computer Entertainment America rep.
Bogus or not bogus?: The trailer is fairly convincing in terms of its art style, and its depiction of a young boy befriending a Griffon-like creature seems like the sort of story that Team Ico would produce. However, the rough graphical style could also mean it could be generated by a few highly dedicated fans with some impressive computer animation chops. (Thesis project, anyone?)
However, one reason this might be not bogus is the fact that Team Ico has been teasing a reveal of its next game for quite some time. Initially expected at the 2008 Tokyo Game Show, it was hoped to be revealed at the 2009 Game Developers Conference, where 2009 Team ICO leader Fumito Ueda spoke at an enlightening game design panel. Unfortunately for fans, no such unveiling took place.