Ys Net is still moving through the development, funding and hiring phase for Shenmue 3. After completing a very successful run on Kickstarter the developers are still gathering funds through their own official website. It also appears they're gathering fans to help out with development as well.
NeoGaf recently posted an image up of lead designer Yu Suzuki with Korean developer Kid Nocon who was working on an unofficial Shenmue game called Shenmue HD. PlayStation Lifestyle caught wind of the official tweet of the news that you can check out below.
Questions have arisen as to whether the HD remaster of the original game will ever become a real thing now that Kid Nocon is working under Suzuki himself on Shenmue 3, but for those of you who didn't know about the HD remaster there's a link to the trailer of the fan remake that you can check out below.
In the NeoGaf thread there is speculation that the reason Suzuki brought on Kid Nocon is to use the models he worked on in his HD remaster for the upcoming Shenmue 3.
There's actually a reasonable possibility that they could use Nocon's work on the game, especially if it's to go for decent graphics fidelity without pushing the budget beyond its current state. According to a recent interview with Eurogamer, creative director Yu Suzuki mentioned that they may have to cut cost anyway as far as graphics is concerned because they would rather spend the funds on fleshing out the story and gameplay.
It's pretty cool that Ys Net is seeking to cut costs where they can and using budgetary discretion to move forward with Shenmue 3.
While the game accrued more than $6 million through Kickstarter, according to Suzuki they would need about $10 million to make it the way he intended the game to be. $10 million these days can get you far with the software technology available, much more so than $10 back when the first two Shenmue games were made. Originally Sega had spent more than $100 million on those games and didn't quite make back what they spent on them. For this newest project, majority of it is being crowd-funded but Suzuki does reveal in his interview with Eurogamer that there is additional funding support from Sony and other capitalists, saying...
Kickstarter's not the only source of money, […] There's also funding from Sony and Shibuya Productions. Before we started Kickstarter, we had goals set around the budget - so if we only got $6 million, we'd create Shenmue 3 based upon what we could do with that $6 million.
We haven't actually seen any of the game yet so we have no idea how Shenmue 3 will look, but we do know that the game will be released on the PS4 and PC.