Crytek Denies Working on Next Generation Xbox 720

German developer Crytek has denied recent rumors that seemingly confirmed it had a working developer version of the next generation Xbox console, presumably titled the Xbox 720, saying that it still doesn't know when Microsoft is set to debut its new device.

The next generation of hardware consoles are eagerly awaited by many developers, and a recent rumor that surfaced last week said that Crytek, the company behind the most recent Crysis 2 first person shooter, already has a prototype of the new Xbox console and that it is developing a brand new game, TimeSplitters 4, to coincide with its release next year.

Now, the German company has issued a formal statement to IGN, saying that it is not working with a new Xbox device, presumably the Xbox 720, but that it is making accurate predictions about the hardware configurations of new devices and upgrading its current CryEngine 3 technology.

"Relating to the recent rumors, Crytek do not have any next generation hardware from Microsoft, nor do we know when Microsoft may announce future hardware or what that hardware will entail," the company said. "Crytek are working at pushing the boundaries of what current technology can bring, including our focus on DX11 which will be released shortly as an update for Crysis 2, and we believe this work, added to our estimations of what the new hardware will provide, set up CryEngine as a next generation engine for all consoles."

CryEngine 3 is current one of the most advanced engines in the games industry, offering a stunning visual experience with the recent Crysis 2 shooter that appeared back in March.

Since then, the company promised that the graphics are going to be improved even more, with the release of a special patch that enables the engine to take advantage of the DirectX 11 software that unlocks the true potential of current generation graphics cards.

As you can see, however, the company still isn't working with new consoles, so it's a safe bet that we're still quite far away from the announcement of a Xbox 720 or a PlayStation 4.