There's a new studio in Sony's first-party line-up. 

In a post on the PlayStation Blog, this new venture – TeamLFG – has been spun out of Destiny developer Bungie. The new studio is based in Bellevue, Washington, and boasted talent who has worked on the likes of Halo, League of Legends and Destiny. 

The company is working on a multiplayer action game. 

"We want to build our games with our communities, inviting players to be a part of our development process through early access playtests," the studio wrote.  

"It’s critical that we stay nimble enough to react to player feedback, not just in our lead-up to launch, but throughout live service as we continue to grow the game and community for years to come." 
 
There's also reference to a "frog-type" game which, honestly, what the hell? Your guess is as good as mine. Tip for developers and publishers: if you're going to make up a term, you can't just throw it into your blog post without any elaboration and expect people to know what you are talking about.