The next Lies of P game is no longer just a teased follow-up. Neowiz says the sequel has passed the prototype phase and entered full-scale development at Round8 Studio, moving the dark Soulslike series into its next major production stage.
The update comes from Neowiz's Q1 2026 earnings report, which lists the Lies of P sequel under the publisher's IP franchising plans. The same report says the project has an internal vertical slice, so the game appears to be moving from early proof-of-concept work into a more defined production pipeline.
The sequel is official, but still early
Neowiz has not announced a release window, platforms or a final title for the Lies of P sequel. The earnings update also does not say whether Pinocchio returns as the lead, whether the next game continues directly from Overture or whether Round8 will lean into another classic story after the first game's post-credits tease.
That makes this a meaningful development milestone, not a reveal. A vertical slice usually represents a polished sample of a game's intended direction, which can help a studio lock down systems, art direction and production goals before the wider build-out. It is a stronger sign than a loose concept, but it still leaves the player-facing details hidden.
Lies of P launched in September 2023 as a single-player action RPG that reimagined Pinocchio through the ruined Belle Époque city of Krat. Its Steam page describes the game as a Soulslike about a puppet created by Geppetto, with weapon assembly, Legion Arms and truth-or-lie choices shaping the journey.
Neowiz is turning Lies of P into a longer-term franchise
The sequel's new status fits the way Neowiz has handled Lies of P since launch. The publisher followed the base game with Lies of P: Overture, a DLC expansion that sent players back to Krat, and its official press materials describe the series as one of Neowiz's recent successes alongside other PC, console and mobile releases.
Neowiz's earnings materials also show the publisher building a wider premium game slate. Alongside the Lies of P sequel, the report points to other projects including Project Rubicon, Project CF, a new Zakazane Studio game and WolfEye Studios' next project. Eurogamer, which also covered the investor update, noted that Project Windi is another Soulslike RPG in the prototype stage, while Project Rubicon is described as a narrative RPG in the vertical-slice phase.
For Lies of P fans, the important part is simpler: the sequel is now officially past the earliest prototype stage. Round8 is working on the follow-up, but Neowiz is not ready to show what kind of fairytale nightmare comes after Krat.