Unveiled during Unreal Summit 2021 by Korean studio Hound 13 -- developers of mobile game Hundred Soul: The Last Savior -- Project M is a new action game which could be described as Souls-like.
The trailer shows off combat, and given its comparison to the seminal FromSoftware title, mechanics such as dodging and combos, as well as jump attacks and parries.
It also appears the game is pretty gory, although the final version may differ. Unlike Hundred Soul, Project M is a title for consoles and PC.
Hound 13 also announced that they had received 20 billion Korean Won in funding ($16,867,104) from Garena, which should allow the studio to move forward with the project.