The global gaming community has been abuzz with speculation regarding the potential return of one of the most celebrated Metroidvania franchises in recent memory. As Gamescom 2026 approaches, rumors have intensified suggesting that Microsoft is preparing to unveil a third installment in the Ori series. However, Thomas Mahler, the CEO of Moon Studios—the independent developer behind the first two entries, Ori and the Blind Forest and Ori and the Will of the Wisps—has moved decisively to dampen these expectations. In a series of public statements, Mahler characterized the rumors as "nonsense" and revealed that his studio has had no involvement in such a project, while also expressing a desire to eventually reacquire the intellectual property (IP) from Microsoft.
The rumors originated from prominent industry insiders who suggested that Xbox Game Studios had a "pretty big surprise" lined up for the Gamescom 2026 showcase. Specifically, an individual known as NateTheHate, who has a track record of disclosing industry moves prior to official announcements, took to the ResetEra forums to clarify his previous hints. He stated explicitly that the "surprise" he was referring to was a new Ori title. While he noted that he could not confirm whether the game would definitely appear at the Gamescom Opening Night Live (ONL) event, his identification of the IP sent shockwaves through the fanbase.
The Response from Moon Studios
Thomas Mahler’s reaction to these claims was swift and unambiguous. Taking to social media to address the influx of inquiries from fans and journalists, Mahler clarified that he has heard nothing regarding a third game in the series. Given that Moon Studios created the foundation of the franchise, his lack of awareness regarding a sequel is a significant indicator of the rumor’s validity—or at least an indicator that if a game exists, it is being developed entirely without the input of its original creators.
Mahler’s commentary went beyond a simple denial, offering a critical perspective on the management of established intellectual properties. He referenced Microsoft’s stewardship of the Halo franchise as a cautionary tale, suggesting that the "magic" of a series is often tied to the specific talent that conceived it. He noted that Microsoft has invested billions into 343 Industries to manage Halo without necessarily recapturing the critical heights of the original Bungie-developed trilogy. Mahler argued that Microsoft has likely learned that "the right talent needs to work on those IPs," implying that a third Ori game developed by a different studio would risk being perceived as "slop."
Furthermore, Mahler disclosed that Moon Studios has held internal discussions regarding the possibility of purchasing the Ori IP back from Microsoft. Currently, while Moon Studios developed the games, Microsoft retains full ownership of the brand. Mahler’s interest in "bringing the IP home" suggests a long-term vision for the series under its original architects, rather than a continuation under a third-party developer.
A History of Critical and Commercial Success
To understand why the rumor of Ori 3 carries such weight, one must look at the historical performance of the franchise. Ori and the Blind Forest, released in 2015, was a breakout hit for Xbox and PC, praised for its breathtaking hand-painted art style, emotive storytelling, and punishing yet rewarding platforming mechanics. It holds a Metacritic score in the high 80s and is frequently cited as a modern classic of the Metroidvania genre.
The 2020 sequel, Ori and the Will of the Wisps, expanded on every facet of the original. With a revamped combat system and a larger, more interconnected world, it received even higher critical acclaim, securing multiple "Game of the Year" nominations and scores in the 90s across various platforms. The series has reached millions of players through direct sales and its inclusion in the Xbox Game Pass library, establishing it as a "prestige" franchise for the Microsoft ecosystem.
Following the completion of Will of the Wisps, Moon Studios entered into a partnership with Private Division, a publishing label under Take-Two Interactive, to develop their next project, No Rest for the Wicked. This move signaled a shift away from their exclusive relationship with Microsoft and a transition into the Action-RPG genre. This context is vital: because Moon Studios is currently occupied with No Rest for the Wicked, any immediate development of Ori 3 would necessitate Microsoft hiring an entirely different development team.
The Dynamics of IP Ownership and Studio Transitions
The situation highlights a common tension in the modern gaming industry: the ownership of intellectual property versus the creative vision of the developers. Microsoft’s strategy over the last decade has focused heavily on the acquisition of studios and the retention of valuable IPs. In many instances, Microsoft has successfully transitioned franchises to new teams. Gears of War, originally created by Epic Games, was successfully handed over to The Coalition. Conversely, the transition of Halo from Bungie to 343 Industries has met with a more polarized reception over the long term.
If the rumors of a new Ori are true, Microsoft would be attempting to replicate the Gears of War model—keeping a beloved IP alive while the original creators move on to other ventures. However, Mahler’s public skepticism suggests that the Ori brand is uniquely tied to the artistic and technical sensibilities of Moon Studios. The games are known for a specific "feel" in their platforming and a high level of visual polish that might be difficult for another studio to emulate without appearing derivative.
Gamescom 2026 and the "Surprise" Factor
Gamescom, held annually in Cologne, Germany, has become the premier mid-year event for the video game industry, especially following the decline of E3. The Opening Night Live (ONL) showcase, hosted by Geoff Keighley, is traditionally the platform for major world premieres. Xbox has historically maintained a significant presence at the event, using it to bolster their holiday lineup and provide updates on upcoming Game Pass titles.
The "surprise" mentioned by NateTheHate is expected to be a centerpiece of the Xbox presentation. If that surprise is not Ori 3, industry analysts are left to speculate on other possibilities. Microsoft’s portfolio is currently vast, following the acquisitions of Bethesda and Activision Blizzard. Potential surprises could range from a revival of a legacy Activision IP to a new project from one of their many internal studios like Obsidian, Ninja Theory, or Rare.
Despite Mahler’s denial, some segments of the community remain hopeful. They point to instances in the past where developers have denied rumors shortly before an official reveal to protect non-disclosure agreements (NDAs). However, Mahler’s direct criticism of Microsoft’s potential decision to use another studio makes this a less likely scenario. His comments appear to be a genuine defense of his studio’s creative legacy rather than a coordinated marketing distraction.
Broader Implications for the Industry
The public discourse between Mahler and the rumor mill underscores the increasing influence of "insider" culture in gaming. Platforms like ResetEra, X (formerly Twitter), and various podcasts have created a 24-hour cycle of speculation that can often force the hands of developers and publishers. In this instance, Mahler felt compelled to address the "nonsense" to manage fan expectations and protect the reputation of his studio.
From a business perspective, the interest in Ori 3 demonstrates the lasting value of high-quality, mid-budget "AA" titles. While "AAA" blockbusters like Starfield or Halo Infinite garner the most headlines, the Ori series provides a level of artistic prestige and critical goodwill that is essential for a subscription service like Game Pass. If Microsoft does indeed have another studio working on Ori, it would signal a commitment to maintaining the brand’s presence in the market, even at the risk of alienating the original creators.
Chronology of Recent Events
- 2020: Moon Studios releases Ori and the Will of the Wisps to critical acclaim and begins a partnership with Private Division for their next title.
- 2024-2025: Moon Studios focuses on the Early Access launch and subsequent updates for No Rest for the Wicked.
- Early August 2026: Rumors begin to circulate regarding a "major surprise" from Xbox for Gamescom 2026.
- August 15, 2026: NateTheHate identifies the rumored surprise as a new entry in the Ori franchise.
- August 17, 2026: Thomas Mahler publicly denies involvement, calls the rumors "nonsense," and critiques the idea of the IP being handled by another studio.
- August 18, 2026: Industry analysts weigh the possibility of a different developer handling the IP versus the rumor being entirely false.
As the industry looks toward the Gamescom ONL stage, the status of the Ori franchise remains a point of contention. Whether Microsoft will unveil a new vision for the Forest of Nibel or if the "surprise" lies elsewhere entirely, the conversation has highlighted the deep emotional and professional connection between developers and the worlds they create. For now, Thomas Mahler and Moon Studios remain focused on their future projects, while the fate of the little spirit named Ori rests in the hands of Microsoft’s executive leadership. If a third game is eventually produced, it will face the monumental task of living up to a legacy that its own creator believes cannot be replicated.