Let's just get this out there: It's safe to say that we won't be seeing The Last Guardian for a while (you know — like we will never see it).
Now that that's out in the open, we can talk about Vane.
Vane is a single-player open-world game that's being developed by a couple 'ex-members' of the team that was working on The Last Guardian. Not much is known about the game (Vane) other than it is based on exploring the mysteries of an unknown land. The atmosphere of the game will create a 'powerful setting' and there will be puzzle-solving elements to it. There are more features that have yet to be revealed.
This mysterious game will be coming to the PC (and possibly other consoles) 'when it's done.'
Follow the game on Friend and Foe's website.