The biggest Lies of P news in years did not arrive through a cinematic trailer, a staged press conference, or a whisper from an anonymous insider. It came from a public legal filing that anyone with an internet connection could read. On September 10, 2026, Neowiz filed a trademark with the European Union Intellectual Property Office for a video game called "Wonders of O," and within days the internet had done the arithmetic.
This is the rare "leak" that qualifies as verifiable fact rather than rumor. A trademark record is a legal document, not a screenshot of uncertain provenance. Yet the studio behind it has stayed conspicuously silent, leaving fans to connect the dots between a filing, a post-credits scene, and a developer that has spent the better part of a year dropping hints.
If the title follows the same naming logic as its predecessor - where the P in "Lies of P" stood for Pinocchio - then the O almost certainly points to Oz.
The Trademark That Spilled the Beans
The filing itself is straightforward. Neowiz registered "Wonders of O" under EUIPO reference number 019420678, a detail first surfaced by the trademark watcher PhraseMaker and subsequently picked up across the games press on September 14, 2026. The official EUIPO record remains publicly accessible, which is precisely what makes this story unusual: the evidence is not a leak at all, but a document Neowiz filed of its own accord.
The application covers Nice Classes 9 and 41. In practical terms, that means game software, interactive multimedia, and the electronic publication of information. It is the standard protective footprint a publisher uses when it wants to secure a name across the many forms a modern game property can take.
Two line items in that coverage have already generated outsized speculation, and both deserve a measured response. The first is "virtual reality game software." This is a generic classification applied to video games broadly, not a confirmation that the sequel is a VR title. Readers should treat it as boilerplate rather than a hardware announcement.
The second is a category covering the production and distribution of animated cartoons. This is routine intellectual property protection, not evidence of an animated series. PhraseMaker, the outlet that first spotted the filing, explicitly cautioned against reading it as an announcement of animated content.
There is also a minor discrepancy worth noting: some reports cite a filing date of September 9 rather than September 10. The majority of coverage settles on September 10, which aligns with the framing that the filing landed roughly one week before Tokyo Game Show 2026 opened on September 17 - a timing coincidence that inevitably fueled reveal speculation.
The crucial caveat remains unchanged. Neowiz has not confirmed the title, the platforms, or a release window. This is a legal filing, not an announcement.
Why 'O' Almost Certainly Means Oz
The naming pattern is the strongest piece of circumstantial evidence available. "Lies of P" follows a rigid structure: a word, the word "of," and a single letter that stands for the story's central figure. P was Pinocchio. "Wonders of O" slots into the same mold, and O is widely presumed to be Oz.
That presumption is reinforced by the original game's post-credits scene. The sequence revealed Giangio as Philippus Paracelsus, a figure seeking Dorothy, before cutting to a character in ruby slippers clicking her heels atop the rooftops of Krat. It was an unmistakable nod to The Wizard of Oz, planted at the very end of a game ostensibly about a wooden puppet.
[Video: The post-credits scene that started the Oz speculation](https://www.youtube.com/watch?v=dHfauhy5iVQ)
The source material angle adds another layer. The sequel is expected to draw from L. Frank Baum's early-1900s Oz novels rather than the iconic 1939 film. That distinction matters enormously for tone. Baum's books contain stranger, darker territory than the Technicolor musical most audiences know, which fits neatly with the gothic Belle Époque sensibility Lies of P established in Krat.
Not everyone is convinced. Some fans have noted that O could refer to other figures in the Lies of P universe, and a trademark filing alone cannot distinguish between a direct sequel and a spinoff. But the Dorothy tease and the naming pattern make Oz the most parsimonious reading, and the community has largely treated the Oz turn as an open secret since 2023.
What Neowiz Has Actually Confirmed
Separating the confirmed from the inferred is essential here, because the two are frequently blurred in the excitement.
What is confirmed: the sequel is in full development under director Choi Ji-won at Nough Studio, formerly known as Round8, which rebranded in August 2026 and continues to operate under its "Games by Gamers" philosophy. Choi has stated his ambition plainly, telling audiences he wants to make "the world's greatest action game."
[Video: Director Choi Ji-won discusses the studio's ambitions](https://www.youtube.com/watch?v=wTmsnBEFuPs)
Also confirmed is the timeline signal from Neowiz's incoming co-CEO Park Sung-joon, the company's first developer-turned-CEO. He has indicated that the new-title pipeline will roll out in earnest starting in 2027.
And then there is the documentary. Released on August 7, 2026, the Nough Studio film closed with a promise from the developers that carries an almost deliberate double meaning given the franchise's themes: "We won't disappoint you. I promise. This is the truth, not a lie."
A Franchise With Serious Momentum
It is worth remembering that Neowiz is not teasing a sequel from a position of weakness. The franchise is thriving.
Lies of P sold more than 3 million units by June 2025. According to Neowiz's August 2026 press release, the franchise surpassed 4 million cumulative units when combining the base game and the Overture DLC. Some coverage has conflated these figures by attributing the 4 million number to the base game alone, but the official breakdown is clear: 3 million for the original, 4 million across the franchise.
Overture itself proved a critical darling, earning:
- "Best Game Expansion" at the Golden Joystick Awards 2025
- "Best DLC" at the 15th New York Game Awards in January 2026
The Nintendo Switch 2 Complete Edition, bundling the base game and Overture, launched on August 6, 2026, and scored 86 on Metacritic - the highest mark the franchise has achieved. For a series born as an underdog Soulslike from a studio few outside Korea had heard of, that is a remarkable trajectory.
What Happens Next
The Tokyo Game Show timing gave the rumor mill its fuel. The filing surfaced days before the show opened on September 17, and fans expected a reveal that may or may not have materialized. Whether Neowiz uses that stage or another venue to address the trademark directly remains an open question.
What to watch for is specific. An official title confirmation would end the speculation instantly. Platform announcements and a release window would follow. And Neowiz addressing the trademark directly, rather than letting it sit unacknowledged, would signal that marketing has begun in earnest. The most concrete timeline signal available remains Park Sung-joon's 2027 pipeline comment - not a release date, but the closest thing to one the company has offered.
Expectations should stay calibrated. Trademarks are filed for projects that sometimes never ship. Publishers rebrand titles, sit on names for years, or register defensive marks they never use. "Wonders of O" is a strong signal, not a guarantee.
For once, the gaming community is not debating the credibility of a leaker or parsing a blurry screenshot. The evidence is right there in a European Union database, waiting to be read. What remains is interpretation, and the interpretation points overwhelmingly in one direction. Between a post-credits Dorothy clicking her ruby slippers on Krat's rooftops, a studio promise that "this is the truth, not a lie," and a confirmed pipeline rolling out from 2027, the real reveal feels less like a question of if and more like when. The filing is public, the pattern is plain, and the answer is almost certainly waiting somewhere over the rainbow.
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