Cyberpunk 2077 developer CD Projekt Red began "exploratory work" on at least one new game project in addition to its ongoing work on next-gen console upgrades for Cyberpunk and The Witcher 3.

The development studio's parent company and game publisher CD Projekt recently compiled a report looking back at the developer's performance in 2021. While the bulk of the report focused on the studio's ongoing work on its next-gen upgrades and a content expansion for Cyberpunk 2077, the publisher also hinted at future projects to come. CD Projekt noted a recent downturn in net profit, which it attributed to the costs of updating Cyberpunk as well as CD Projekt Red's  "exploratory work on new projects which are at an early stage of development."

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While the press release provided no further details about CD Projekt Red's yet-to-be-titled projects, it did provide a snippet of information about one new game coming from another CD Projekt-owned development studio. The press release noted that two Northern American developers, Digital Scapes and The Molasses Flood, joined the company in recent months. While Digital Scapes was rebranded as CD Projekt Red Vancouver and integrated into the larger studio, The Molasses Flood "will work on a separate game based on one of CD Projekt Red's IPs."

Following its founding in 2014, The Molasses Flood developed two survival games: The Flame in the Flood in 2016 and Drake Hollow in 2020. CD Projekt acquired The Molasses Flood in October of this year and declared the studio would retain its individual identity and work independently on its next project.

Related: CD Projekt Red Believes Cyberpunk 2077 Will Eventually Be Seen as a 'Very Good Game'

Regarding its existing projects, CD Projekt Red is reportedly "hard at work on the next-gen version of Cyberpunk, scheduled for release in the first quarter of 2022, alongside another major update for all platforms," according to the President and Joint CEO of the CD Projekt Group, Adam Kiciński. The next-gen update was originally scheduled to release later this year, as was the next-gen edition of The Witcher 3: Wild HuntHowever, CD Projekt delayed both releases to 2022, with Cyberpunk arriving in quarter one and The Witcher planned for quarter two.

After their releases, the next-generation versions of Cyberpunk and The Witcher 3 will be available to purchase as standalone products PlayStation 5 for Xbox Series X|S, or as free upgrades for those who already own the games on older consoles. Both upgrades are expected to include graphics and performance improvements, and Wild Hunt's upgrade will include free DLC inspired by Netflix's The Witcher streaming series.

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Source: CD Projekt Red