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The next entry in the award-winning “Torchlight” series is a shared-world action-RPG called “Torchlight Frontiers,” publisher Perfect World Entertainment announced on Thursday.

It’s set in the same universe as the previous two games and it brings back many of the series’ signature features and mechanics, but it takes place in a persistent and dynamically generated world. In true “Torchlight” style, players will team up with friends and their devoted pets to hack and slash their way through a vibrant world, discover ancient ruins of lost civilizations, and brave dungeons filled with riches and dangerous creatures, Perfect World said.

A new development studio called Echtra Games is working on “Torchlight Frontiers.” The franchise was originally developed by Runic Games, which closed in 2017. Echtra is led by former Runic Games and Blizzard North co-founder Max Schaefer and it’s comprised of veteran developers who worked on the “Diablo” and “Torchlight” franchises.

“Perfect World Entertainment has had a strong working relationship with Max Schaefer, dating back to the original ‘Torchlight’ game, and we believe in his vision to evolve the ‘Torchlight’ series,” said Perfect World Entertainment senior vice president of publishing Yoon Im. “Max has put together an all-star team of developers, and we continue to be amazed by the sheer level of talent and wealth of experience that they bring to ‘Torchlight Frontiers.’ We’re proud to have Echtra Games as a part of the company.”

The original “Torchlight,” which came out in 2009, was well-received by critics and fans, but many felt it needed a multiplayer component. Its 2012 sequel added a cooperative mode for up to six people. Schaefer said evolving the “Torchlight” universe into a shared world has always been a goal for the franchise.

“’Torchlight Frontiers’ will be a living, breathing universe that will still feel uniquely ‘Torchlight,’ while we add our own creative spin to the game. The team is building something truly special, and we can’t wait for fans to play it for the first time at Gamescom and PAX West,” he said.

“Torchlight Frontiers” will be available on PC, PlayStation 4, and Xbox One. Perfect World will share additional details about the game at a later date.