A recent Polygon article revealed some information on the project Futatsugi is working on. In particular, it seems he’s looking into licensing old IP from SEGA. He doesn’t, however, want to simply port the old Panzer Dragoon games, but do “something new” with it. Given that he’s working with low budgets, it’d be logical to assume he’d make a Panzer Dragoon VR game if he had the chance. He does clarify that there’s nothing currently being done with the Panzer Dragoon IP.
Beyond that, Futatsugi said Grounding has other ideas it would like to pursue in conjunction with Sega, along the lines of Space Channel 5, noting that he feels like his former company is a bit more responsive to external companies licensing its old IP these days. And he said he’s been thinking more and more about VR projects Grounding can pursue.
Asked about Panzer Dragoon — the series he’s best known for — in VR, Futatsugi said if the opportunity came up he would love to work on it, though he wouldn’t want to port the old games over in a straightforward way. He would want to do something new. He clarified, though, that at the moment “there’s no specific movement happening on the Panzer Dragoon front.”
“But,” he said, "Sega really has a lot of great, old IPs and so we’re always thinking about ways we might be able to make use of those.”