"Dreamfall Chapters: The Longest Journey is an adventure game for the PC that continues the epic journey that began in the critically acclaimed and award-winning adventures The Longest Journey and Dreamfall: The Longest Journey.
Independently produced and funded by Red Thread Games, this project brings back the core team behind Dreamfall, including Ragnar Tørnquist, creator of The Longest Journey saga."
From reading the site and interviews, it appears that Funcom (who published both The Longest Journey & it's sequel Dreamfall) have no interest in making, funding or producing the 3rd chapter because they can't see how to turn it into a multi-player game or MMO. So the studio, which is made up of people who worked on the original games, is seeking funding via Kickstarter - they have licensed the rights to the game from Funcom, and are attempting to make, produce and publish it themselves.
An interesting article / interview about this whole new installment, the kickstarter, etc: Gamespot article/interview.
Personally I'm really hoping they can get the funding and pull this off. Because I loved the 1st two games, and have been bitterly disappointed that no 3rd installment was in the works (when it was obvious there was need for a 3rd installment). It comes as no surprise to me that it was not going to come about due to Funcom not being able to turn it into some crap MMO / Multi-player game, however hopefully this group can get the funding and make a game of the same caliber of the previous games.
Edit: Kickstarter has reached it's goal and made some stretch goals. This game will be going ahead! whoo! Now all it needs is help in getting through Steam's Greenlight process so they can sell the game on Steam once it's been made. Here's the Greenlight page:
Edited by Kamatsu, 27 February 2013 - 01:42 PM.