While the awards show is still on-going, a new IP has been revealed titled The Phantom Pain at the VGA 2012 Awards. Developed by Moby Dick Studio, the world premiere showcased a futuristic setting with an unknown protagonist sporting a prosthetic arm.

While no release date or platform was specified in the trailer, you can check out below and keep an eye for more information later.

Update: Speculation is running wild that the trailer is related to Metal Gear Solid, with Internet detectives noticing the similarities of the main character with Solid Snake, and finding several other clues hinting at the connection.

another video that's been taken down :/

That whole Joakim. Kojima thing almost has me pretty close to convinced. The graphics look just as good as the new fox engine. Whatever it is though I was sold at a Giant flaming whale eating a helicopter :D

Just to clarrify, the theory isn't that this is 'related' to MGS, or that this is Solid Snake.

The theory is that this IS MGS:GZ and that it is Big Boss.

http://www.neogaf.com/forum/showthread.php?t=503254