It’s hit the internet pretty hard, and speculation is running wild. Fans of Square-Enix’s Final Fantasy series are coming together to share their thoughts on recently leaked footage of a demo that could very well be a new Final Fantasy game under development. If this footage is indeed for the series, Square-Enix has been quiet on the game, as it’s not on the radar for their release schedule. But we all know development in gaming is fast paced and lots of ideas can be kicked around along with a lot of tests.

What give this game some validity is the messaging, coming from ex-developers who claim this game was indeed under development based on prior concept art. The developer in question was Swedish game company GRIN, which has recently closed its doors. The concept art has been upgraded and now we can see the game in action.

According to various sites the rumor mills is buzzing on just what has happened to this game. It’s being said that the game is still under development and has been transferred to Square-Enix owned Eidos Montreal. If they are continuing to develop this game, it looks impressive. The in game footage lacks the standard battle systems that we’ve become so familiar with, showing neither battle damage numbers or any other measurable bars of magic or hit points. Could this be the beginnings of another MMORPG?

Right now cites sources will be hard to come by, and perhaps it’s not an MMORPG, just so early in development that battle systems and such had not been added. So let’s consider this a BIG rumor, but it’s always nice to dream of what we’d like it to be. Take a look at the footage and leave your comments below. Is this much ado about nothing?