Xbox 720 (the widely-accepted pretend name for the Xbox 360's successor) is being targeted for its debut appearance at E3 2012 and development on its games has already begun, according to a new rumour.
Crytek is among the first to kick off next-gen development, reportedly having begun work on Timesplitters 4 for the Xbox and PlayStation successors.
Microsoft is yet to nail down its hardware specs, but aims to reveal the new machine within the next 12 months, according to Videogamer's 'high-ranking industry source at Crytek'. MS aims to reveal and launch its new console before the PlayStation 4.
According to the report, Crytek is not only developing a new Timeplitters - the first-person shooter series that debuted on PS2 in 2000 - but was showing it behind closed doors at E3 2011 last week. The game apparently uses CryEngine 3 and is based on DirectX 11 technology, the main features of which are multithreaded rendering, compute shaders and tessellation. Mmm, lovely tessellation.
The game is said to feature sanbox-style gameplay elements and levels with multiple paths, offering the gamer a choice of routes to the same ultimate conclusion. Its visuals are claimed to already be noticeably better than current-gen games.
Developer Crytek UK - originally Free Radical before Crytek rescued it from meltdown - officially confirmed to CVG back in 2007 that work on Timesplitters 4 had begun. It even released concept art before its long-time no-show stirred up rumours of its cancellation.