According to Pitchford, “No. We are not developing that right now. We don’t know what that is yet. We can imagine what it must achieve, but we don’t know what it is yet.” He later adds, “We know we want it and we know it should exist, but we don’t know what it is yet.” However not everything is doom and gloom because Pitchford did state that the company is working on something in Borderlands that they will announce soon. “We are doing things in Borderlands that we’ll announce soon, that are good, and that I think people will be really excited about if you love the franchise.” As to whether it will be Borderlands 3, it seems that will not be the case, but if you love the Borderlands franchise, we guess you will have to take Pitchford’s word on it that there will be something good to look forward to, even if it isn’t Borderlands 3.