Yager have announced that The Cycle will be a match based multiplayer shooter game and is entering alpha testing shortly. Unlike Spec Ops: The Line, their previous shooter, this one will neither be third person nor in contemporary setting.
According to The Cycle's official website, it will take place on a distant planet named Fortuna III which was terraformed by aliens long ago. It is kind of odd we use the term "terraform" even when non terrestrials do it. Anyway, the terraforming was not exactly good by puny humans' standards and they can only remain on the planet for a short while before getting poisoned by it.
The site further claims each match will send players on a quest that will take roughly 20 minutes to complete, which is where the lore above comes into play. It will likely have certain timers since the site also states staying longer than 20 minutes on Fortuna III is not good for players' health. Drop pods seen at the end of the trailer will probably be the way players enter missions.
Missions themselves will be called contracts, which can be undertaken to claim more money and fame. Players will apparently be able to murder each other but completing the contracts in groups will be more rewarding which should prompt players to work together. Now, it is not clear whether the contracts can be completed within the time limit in groups smaller than 20, so PvP might still be imminent each match.
The concept itself sounds good, which is basically a smaller scale battle royale with incentives to take a leap of faith and group up with strangers for potentially better rewards. Yager have stated that The Cycle will initially be only available on PC, but console versions are planned for a later release.
Their official FAQ states that the game has been in development for about a year, but full development focus shifted on it only at the start of 2018. If this title takes off well, it might open the gates to a new era of battle royale-like modes.