Baldur's gate 3 was officially announced last year one week before E3 2019. After that things were pretty quiet until a tweet was made by the official Baldur's Gate 3 twitter account on February 18th 2020, announcing that the first ever reveal of BG3 gameplay will be shown at PAX East on February 27th at 3:30 ET. Less than a week after that announcement, Hasbro announced at at Toy Fair 2020 that Baldur's Gate 3 will be released on Steam early access some time this year with no set dates as of yet. The game is being developed by Larian studios whom many had long been speculating would be the studio behind BG3. Larian is well known for their Divinty series which combines table top elements into an rpg adventure game.
Baldurs Gate was an action adventure rpg video game adaptation of a DND Forgotten Realms campaign. Developed by Bioware and published by Interplay and Black Isle Studios, it was considered one of the first games to really revolutionize rpgs. Released back in December of 1998 it didn't take long for Bioware to develop and release a sequel less than 2 year later on September of 2000. Rumors spread that Black Isle was working on Baldur's gate 3 but was cancelled in 2003.
I, for one, couldn't be more excited for this announcement. I absolutely adored Divinity, and knowing that Larian now had the reigns on the game that inspired them couldn't make me more happy, and as a mellinnial I don't really do happy. I will definitely be keeping watch for this games early access later this year.