Developer Insomniac Games released a mysterious trailer Tuesday teasing the upcoming announcement of the studio’s new project later this week.

The trailer, simply called “What’s Next?,” depicts the underwater ruins of a technologically advanced but aesthetically medieval civilization, animated in a hand-drawn art style. The camera descends throughout the trailer, showing undersea rock faces laced with moving gears and pipes, statues of stone faces, and sunken ships. Also, there are a lot of jellyfish.

The trailer announced that Insomniac will make a larger announcement about the game on Thursday, January 28, at 9:30 am ET. The trailer ends with the phrase “dive deeper.” The teaser does not feature any obvious connections to a game from the studio’s past.

Best known for its work on two of PlayStation’s long-standing first-party franchises, Ratchet and Clank and Resistance, Insomniac has moved toward working with other publishers in recent years, including 2014 Xbox One shooter Sunset Overdrive. Insomniac is currently working on two projects; a game based on the upcoming Ratchet and Clank animated movie, which will come out after the film opens in April, 2016, and Edge of Nowhere, an Oculus Rift-exclusive third-person adventure game involving arctic explorers who try to evade vaguely Lovecraftian monsters.

On popular gaming forum NeoGAF, gamers and fans have already started speculating on what the upcoming game might be. Predictions and hopes run the gamut, from a “2D point-and-click adventure,” to “a new AAA IP.” Of course, fans are also throwing out underwater puns for every possible sequel as well, such as “Resistance 4: Under Water,” and “Sunset Aquadrive.” Someone even suggested the trailer could be for “Fuse 2.”

We’ll keep an eye out and let you know what Insomniac is up to when they break the news Thursday morning.

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