When Microsoft confirmed they were cancelling the Platinum Games-developed action game filled with dragons, Scalebound, many fans were upset – to say the least. Platinum Games boss and game director Hideki Kamiya even apologized to fans over the game being scrapped.

Now, the company has renewed the trademark for the game (thanks, NeoGAF), and rumors are swirling that the project has been revived and given another chance. One such “industry insider” is claiming development on the game has resumed with an important Microsoft team at the helm.

The rumors are mostly pointing to Platinum Games not being on the project, and that it’s being rebooted from the ground up. This means we’ll probably be seeing a Scalebound entirely different from what Kamiya and crew were toiling away over for years.

Could we see the game resurface at this year’s E3? We’ll hopefully find out in the coming months.