Bioware very vaguely but intentionally and carefully mentioned their new IP again - last mentioned in 2014:
So like, all we know from previous comments is it’s “not an RPG” but honestly that could describe Mass Effect or The Witcher if you felt like it.
What they add here is that is is a “unique IP that will bring players together in exciting new ways” and for you to “enjoy with your friends”, so almost certainly multiplayer-oriented, quite likely persistent in some way, and that is is “new universe full of new characters, stories, and gameplay”, which is ultra-vague but suggests to me that it’s probably not real-world based (unlike, say, the Division).
Shinobi602 who has pretty never given a wrong rumour re: a Bioware game and has even clearly been fed info before says “BioWare’s new IP is “genre melding”; action adventure+traditional character/story progression of a Bioware game.”
Again easily vague enough to encompass stuff like ME, TW, or like, Tomb Raider with more talking and abilities to gain.
Personally, given all the “unique” and “enjoy with friends” stuff I’m inclined to expect something non-massively multiplayer, i.e. oriented towards social solo and small group play. I also expect persistence as noted above. I would kind of expect build/survive gameplay, but that’s so un-unique and doesn’t necessarily fit with action adventure so I dunno. Be interesting to see how the traditional story progression could fit with multiplayer. SWTOR does it, a bit, and my wife actually thought that made it one of the best games she’d ever played (in part for the horrified expressions on my Imperial Agent’s face as I picked “Don’t kill” and she picked “Kill” and won the roll with her Sith), so I could see that without all the tedious stats and levels and gear having a broad appeal, potentially.
To be honest setting-wise I think it’s 75/25 chance of “post-apocalypse” (because it’s rarer) and “on an alien world”. If it is post-apocalypse I guarantee it’ll be a “green” post-apocalypse, not a blasted wasteland. But that’s just speculation. Given it’s coming out in 2018 though, this is clearly an announcement that the hype-train is fueled up and ready to drive to the platform to pick up passengers.
It has at least been repeated that it’s an entirely new IP, not a licensed one.