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I made a thread for the Nintendo Direct so figured I'd be fair and make one for Sony's State of Play that happened the same day. Biggest highlights IMO are:

-Tekken 8 confirmed (no release window yet)
-Yakuza spinoff Ishin! is being remade on the Dragon Engine and finally coming to the West for the first time as Like a Dragon: Ishin! this coming February
-Hogwarts Legacy will have a side story that's exclusive to PlayStation consoles (kinda reminds me of how back in the sixth gen era multi-plat games tended to have version exclusive content a bit more often)
-Bandai Namco has a new mech game called Synduality in development, looks like it'll combine traditional mech action with No Man's Sky esque resource gathering
-Sony is now publishing the game previously known as "Project Eve," now given the proper name "Stellar Blade," which is the first game from a young Korean game studio called Shift Up
-Sony will also be publishing a new IP from Koei-Tecmo and Team Ninja called "Rise of the Ronin," an open world action-RPG set in 1863 Japan. It's a PS5 exclusive coming in 2024
-And finally a new God of War: Ragnarok trailer showing off more of the story and action, and reminding people it's set for November 9, 2022 (also a GoW: Ragnarok themed DualSense will release soon too)

There were a few low key announcements too like two PSVR2 games (one a Star Wars FPS and the other a tabletop RPG sim), and an apocalyptic sci-fi driving sim called Pacific Drive.

Biggest highlight for me personally is the Ishin! remake coming to the West, it always bummed me out we never got the historical setting Yakuza spin-offs in the past, and my understanding is Ishin! is the best so the fact we're getting that one at long last is awesome.

Stellar Blade is definitely exciting, even though it's apparently now a PS5 exclusive. Old news on this project said that it was apparently gonna also be released on Xbox and PC so I wonder what changed, or is it just "exclusive" for 2023?

I don't get hyped much for trailers anymore. In fact, I don't get hype for anything anymore, period. Much of popular media, including Video Games, has stagnated to the point where I can't really bring myself to express much enthusiasm for upcoming titles or releases.

But I have to admit, that shot in the GoW trailer where Skoll and Hati chase the sun and moon at the onset of Ragnarok dropped my jaw. It's been a really long time since that's happened to me and in a trailer no less, let alone a full product.

Looking forward to Ishin, been avid fan of the franchise ever since Yakuza 0 came to Steam.

Rise of the Ronin also looks promising, a little dubious if we'll get a PC port, but Nioh 1 & 2 did so I have some faith it will eventually.

Coincidentally both are set in the same specific historical setting I find very neat, they very tail end of Edo period.