Update 2: As has been pointed out by user Gouda Jouji on the MGSForums, the brief spaces in the title screen combined with the awkward lines emanating from the logo can be combined to spell "Metal Gear Solid V". It's a bit of a stretch, but it does fit.
If that wasn't crazy enough, freelance writer Alex Rubens tweeted "There are people in the VIP section of the Konami party wearing Phantom Pain/Moby Dick Studios t-shirts."
"They aren't talking about anything. And no, they aren't Swedish," he added.
Elsewhere Geoff Keighley tweeted that The Phantom Pain is a never before revealed game i.e. not Metal Gear Solid: Ground Zeroes. "The Phantom Pain is an a completely game, nothing that has been shown before. I assure you of that," he wrote, possibly while inebriated.
Update: According to Moby Dick Studio's official site, the Swedish developer's CEO is named Joakim Mogren, whose first name is an anagram for Kojima, as pointed out by EG commenter landlock.
Commenter DreadedWalrus added, "Mogren is a football club in Montenegro. Metal Gear Rising: Revengeance opens in Montenegro."
Finally, commenter JeroenZM pointed out the screencap to the right from the Metal Gear Solid: Ground Zeroes trailer, suggesting another connection to this mysterious new project.
And for less speculative news, Moby Dick lists PS3 and Xbox 360 as platforms it's developing for.
Original story: During the VGA a new horror game called The Phantom Pain premiered. It features a one armed man with a hook for a prosthetic left arm waking up in an asylum, where all the other patients are being murdered by mysterious soldiers.
Throughout the trailer we see this one-armed man from behind crawling through corridors and hiding under beds.
The strange thing is we never see his face and from behind his brown shaggy quasi-mullet, beard, and bandages wrapped around his head like a bandanna bear more than a passing resemblance to Metal Gear Solid protagonist Solid Snake. He also sneaks around a lot, we never see his face, and the last shot showed a floating soldier in the background that could have been a silhouette of infamous boss Psycho Mantis.
We also saw a helicopter surrounding the compound, a unicorn on fire, and what appeared to be a flying, flaming giant whale crashing.
The Phantom Pain is being developed by Moby Dick Studio, who appears to be a new outfit. We'll update this story as we find out more.