Soul Calibur: Lost Swords is in development for Playstation 3, and it will be a free-to-play title, it has been announced.
The news was revealed in Famitsu (translated by Gematsu), and details are a little thin on the ground at the moment. The trademark for the title was registered a couple of months ago, but now we have a firmer idea of the direction Namco Bandai are taking the series now that the game has been confirmed. More details when we have them.
Update
Namco Bandai has confirmed that Lost Swords will be heading to Europe exclusively on PSN/PS3, and that it will be free-to-play and a single-player experience. Gamers can also look forward to reacquainting themselves with "numerous famous fighters" including fan-favourites Siegfried and Mitsurugi.