Update: Following the game's formal reveal at the Xbox E3 2019 Press Briefing, we also got some brand new screenshots of the game which you can find at the bottom of the story.

According to the press release, this isn't just ripping off the success of the film series -- instead it is a full-on partnership with production studio Lionsgate Interactive:

“We are so thrilled, and honestly a little scared, to bring all players, especially fans of Blair Witch, back into the haunted woods. It is genuinely an honor to be working on such a hair-raising, paradigmatic experience, which defined so many of our lives!” said Piotr Babieno, CEO at BlooberTeam.
“The team at Bloober is made up of amazing storytellers. We were excited to give them the opportunity to craft an original narrative set in the iconic woods of Blair Witch,” said Daniel Engelhardt, Senior Vice President of Lionsgate Interactive Ventures & Games. “They’ve taken the evil hiding in the Black Hills Forest to a whole new level. Players should enter at their own risk.”
The original reporting follows:

The Blair Witch franchise is invading video games this year. The new game from Bloober Team was revealed in a terrifying new trailer at the Xbox E3 Press Conference. The trailer was purely cinematic, but absolutely nailed the creepy, foreboding tone the series trades in. Check it out below.

The game is set in 1996 and is based on the Blair Witch lore. It will be a first-person, narrative-driven horror game. In the trailer, the player is running through a forest being pursued by some barely seen figure. As in the movies, a camcorder plays a big part in the trailer. And, when the character looks through it, things get appropriately trippy. This certainly looks like it will scare the pants off of most gamers.

Bloober Team knows how to deliver terrifying experiences. This is the team behind Layers of Fear. So, I would say the Blair Witch series is in good hands. Hopefully, we get a look at how the game actually plays over the course of the next week. Either way, I'm confident that Bloober will at least deliver on the sense of dread that the developer brought to its earlier games.

Blair Witch is coming to PC and Xbox One on August 30. The game will launch on Xbox Game Pass that same day. Check out new screenshots of the game below: