It's like Borderlands, but not.
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To kick off the Summer Game Fest Kickoff Live event today, Gearbox and 2K announced Tiny Tina's Wonderlands. This is a spin-off game based on the world of Borderlands but it's not quite Borderlands. There are several key differences, which we'll touch upon in a moment.

Tiny Tina's Wonderlands is current in development for the PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S, and PC via Steam and the Epic Games Store. It is currently aiming for a release in early 2022, but this may change as the months go by.

Gearbox is calling this an "epic high fantasy take on the looter shooter genre." You will be able to create and customize their multiclass heroes as they "loot, shoot, slash, and cast their way through outlandish monsters and treasure-filled dungeons on a quest to stop the tyrannical Dragon Lord."

Much like she did with the Borderlands 2 DLC, Assault on Dragon Keep, Tiny Tina will assume the role of the dungeon master. She makes up the rules and can change the world on the fly. Guess Gearbox realized how much fans loved that fantastic piece of DLC and decided to make a whole game like that. Can't say I blame them.

This is a standalone release. Tiny Tina's Wonderlands will feature a four-player co-op campaign in addition to repeatable end-game content.

Wonderlands stars Andy Samberg as captain Valentine, Wanda Sykes as a rule-obsessed robot, and Ashly Burch as Tiny Tina. Players will be attempt to defeat the evil Dragon Lord, played by will Arnett. Along the way, players will encounter "lovable misfits" like the lute-wielding Bardbarian and the Fairy Punchfather.

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That's all well and good, but what does Randy Pitchford have to say about this?

“Wonderlands is a culmination of over a decade of on-and-off development at Gearbox Software towards a Role-Playing Shooter set in a fantasy universe,” said Gearbox Entertainment Founder and Tiny Tina’s Wonderlands Executive Producer Randy Pitchford. “For me, bringing actual Borderlands® guns to fight dragons, skeletons, goblins, and more in an original fantasy world imagined by the galaxy’s deadliest thirteen-year-old, Tiny Tina, as a new, full-featured AAA video game is a dream come true.”
Thanks, Randy!