Ex-employees of CCP, Remedy and Next Games have formed a brand new studio in Reykjavik called Mainframe Industries.
The venture is headed up by CEO Thor Gunnarsson (pictured) and will be focused on building an MMO title for cloud platforms with the ultimate aim being to create an experience that's playable across PC, mobile and TVs.
The Icelandic developer currently counts 13 members of staff among its ranks.
"The creative and business opportunity that cloud gaming brings to social and immersive online games is unlike anything we've seen on the screens we play on today," said Gunnarsson.
"We're incredibly excited to announce our air bridge across the Nordics, having assembled a founding team with the triple-A, MMO and mobile pedigree needed to build the game we've been preparing for our whole lives.
"For Mainframe, the ability to deliver to all platforms a level of immersion and world simulation typically only seen in high-end PC games means that the visual gap between devices disappears as we move to the cloud. And we see tremendous potential in the expansive computing and storage capacity of the cloud. We can make bigger and better games with more complex physics simulation, AI, and character systems to deliver a fresh gaming experience unbounded by the constraints of individual platforms."
Chair Samuli Syvähuoko added: "What attracted me to join this adventure is the sheer passion of the team to truly push the known boundaries for games beyond anything we've seen before. Another revolution that I want to witness very closely with Mainframe is how the traditional user acquisition funnel will essentially be demolished by cloud streamed games, where any ad you see can be the actual game, ready to play right there and then."