Crash Bandicoot and Spyro developer Toys For Bob announced early this year that it had broken away from publisher Activision Blizzard to forge its path as an independent studio. Since then, the studio announced a publishing partnership with Microsoft as it develops its next game, according to a company post in February 2024.
While there has been speculation that a few games were canceled at the studio before going independent, a former employee has seemingly confirmed that rumor, alleging that a sequel was scrapped. Concept artist Nicholas Kole explained this in a Twitter thread in response to a question regarding a canceled project called "Project Dragon," in which he revealed that the game was something completely different.
This past weekend, Kole discussed the canceled "Project Dragon" in development at another studio, which was revealed to be Phoenix Labs, according to Principal 3D artist Michael Vicente. Kole explained the development progress for "Project Dragon," sharing concept artwork, character models, and created music for the canceled game.
American comic writer Daniel Barnes replied to Kole's post on the canceled game, for which the "embargo on the whole body of portfolio work" had been lifted, stating that he "be pissed" if Project Dragon was a Spyro game. Rightfully, this was a prominent fan theory that a potential Spyro game was in the works, given its name; however, Kole responded that this wasn't the case.
It is not Spyro, but some day folks will hear about the Crash 5 that never was, and it's gonna break hearts.
Kole did not go into detail regarding the statement, possibly for various reasons; Kole further responded to another reply revealing that "Project Dragon" and Crash 5 were separate games canceled at "two different studios." While this revelation has certainly broken many fans' hearts, especially the news of a canceled Crash 5 game, Kole remained tight-lipped following his statement, yet it gave fans more questions than answers about what Crash 5 could've been if development had continued and if the Micorosft acquisition of Activision Blizzard was one of the reasons for its cancelation.