Last year Square Enix launched a curation program called Collective in which game creators post ideas and allow fans to vote on those ideas. Now Square Enix plans to open up the process to old Eidos IPs.
In a post on the Collective website, Square Enix details its plans to allow Gex, Fear Effect, and Anachronox into the world of Collective. Developers can pitch ideas for all three franchises, and Square Enix may include more IPs in the future with enough interest.
The post also mentions the creative liberties developers have with the IPs. Square Enix isn't necessarily looking for direct sequels, so spin-offs and genre shifts are allowed.
In a best case scenario, the potential game enters a crowdfunding phase. Following a successful campaign, Square Enix charges a 10% distribution fee and a 10% license fee for the IP.
It'll be exciting to see what kind of creations developers come up with for the three IPs. Perhaps it leads to an even bigger initiative to revive old games and franchises in new and interesting ways. One can hope.