Irrational Games, the studio behind the beloved Bioshock franchise, was rumored to be working on something called Project Icarus. Well scratch that. According to this trailer the game is going to be called “Bioshock Infinite”.

From what we’ve gathered from the trailer, it looks as though you’re in a floating city named Columbia, high above the earth. The game will be set in a timeline before the events of the first Bioshock game. Maybe this will tell the story of Andrew Ryan’s first attempt at an isolated city? One that will come crashing down with an event toward the end of the game to send him into the deep below? The trailer does start out as a nice underwater tease (maybe his first idea of Bioshock?), but then busts out into the open air outside.

No word when we’ll ever get the chance to step on a patch of real ground. We’ve been underwater for two games in Rapture, and with this one apparently we’ll be up in the sky trying to not fall off. Seriously guys, I want to step foot on the ground! Anyway, the game will probably be released sometime in 2012, so we’ll keep you posted on any new developments. For now, here’s the trailer. If you guys pick out anything from the trailer I missed let me know.