Sad news for Unreal Tournament fans because it was just revealed at GDC that Epic Games is not working on Unreal Tournament 4 and they are only focusing on creating a new IP.

Polygon revealed today that Epic Games is currently working on an unannounced title that will most probably be powered by Unreal Engine 4. In addition, Polygon shared a concept art from what seems to be a character from that unannounced title.

The concept art was unveiled during the GDC 2014 speech of Epic's lead animator, Jay Hosfelt. As Polygon claimed, 'Hosfelt's panel explained Epic's new game prototyping process, using its new IP as its case study.'

Fans quickly assumed that the character is from the Samaritan tech demo shown years before but Epic Games is quick to note that it is not the case.

According to Epic's Paul Meegan, this unannounced project is entirely new and has nothing to do with the Samaritan demo.

While it not on the works right now, Epic Games announcing an "Unreal Tournament 4" is surely going to be met with great reception as fans have been clamoring for a new "Unreal Tournament" for years now. The last game released was "Unreal Tournament 3" and that was released during 2007.

With the FPS market being saturated with "realistic" shooters and the "Call of Duty" franchise starting to lose steam, a fast paced arena shooter in same vein as the classic unreal tournament titles will put some fresh air in the FPS market.

With the announcement of the new unreal engine, what would we better that to showcase the new engine with a release of the much anticipated return of "Unreal Tournament" with "Unreal Tournament 4".

So what do you think? Should there be an "Unreal Tournament 4"? Or Will there actually be an "Unreal Tournament 4"? Sound off in the comments below.