Nioh has been in a very slow development process since 2004. After a long and patient wait, we finally got our official western announcement and game reveal at the PlayStation Experience 2015.
The trailer depicts a very Bloodborne-ish play style in a historical Tokyo environment, and includes added RPG elements. Just by watching this tiny bit of footage, it is obvious the game is a Team Ninja title.
Nioh has gone through many phases. Initially supposed to be released in 2006 on the PS3, the game went quiet until Team Ninja mentioned it was still in development; this was in 2009. Today, the game is expected to be released in 2016 as a PlayStation 4 exclusive.
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