This announcement covers the Shenmue 3 by Ys Net — Kickstarter campaign, which launched overnight and has already passed its $2M goal by 10% (apparently this briefly broke Kickstarter, thanks Kotaku via nin). The open-world RPG sequel is coming to Windows as well as PlayStation 4, and here's word on the plan:

Shenmue 3 is the true sequel to the classic open world action RPG games, Shenmue and Shenmue 2. Created for modern platforms (PC and PlayStation 4) and built in Unreal 4, Shenmue 3 will continue the legacy of Shenmue.

With your help, we can #SaveShenmue and rejoin Ryo and our favorite characters on this new adventure!

• Shenmue 3 will have familiar elements from its predecessors and new fight mechanics to achieve a new level of interactive storytelling.
• If this project reaches its funding goal, Shenmue 3 will be available on the PS4 and PC.
• Our ambition is to deliver a Shenmue experience that will draw in newcomers to the series and reward diehard fans with its deep story and rich gameplay.