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| An investor report by Noble Securities suggests a potentially large DLC for The Witcher 3, expected to launch in May 2026. |
It feels like only yesterday we were first stepping into Geralt’s boots, chasing after Ciri in a world teetering on the edge of chaos. Yet, The Witcher 3: Wild Hunt officially celebrated a monumental milestone: its tenth anniversary in May 2025. While most games fade from the spotlight after such a long period, the Northern Kingdoms are buzzing with renewed speculation. Persistent whispers of a third, massive add-on for the legendary RPG have resurfaced, and this time, they’re backed by some intriguing financial projections.
The latest fuel for the fire comes not from a gaming forum leak, but from the world of high finance. A Polish-language investor report from Noble Securities analyst Mateusz Chrzanowski has sent shockwaves through the community. While the document is primarily a cold, hard look at CD Projekt's financial future, its implications for fans are anything but boring.
The Analyst’s Blueprint: A $30 "Bridge" to the Future
Here’s where things get interesting. The report frames this potential add-on not just as fan service, but as a strategic "transition project." The speculated release window? May 2026—perfectly aligned with the game's eleventh anniversary. The goal, according to the analysis, would be to keep the franchise fervor alive and act as a narrative and commercial bridge to the next mainline entry, currently known as The Witcher 4 (or Polaris), slated for 2027.
The numbers suggested by Noble Securities point to something far beyond a simple cosmetic pack. They project a premium unit price of around $30, anticipated sales of a staggering 11 million copies, and a production budget of approximately 52 million Polish Złoty (roughly $14 million). These are figures that scream "major expansion," potentially on the scale of the beloved Hearts of Stone or Blood and Wine, not a minor quest drop.
For a detailed look at the financial analysis sparking this speculation, you can read the translated Noble Securities report here.
Interestingly, the report also suggests that development would not be handled internally by the main CD Projekt Red team, which is deeply focused on The Witcher 4 and Cyberpunk follow-ups. Instead, the external studio Fool’s Theory—a team comprised of veteran RPG developers with Witcher experience—is reportedly lined up to take the helm. This partnership makes strategic sense, allowing for a high-quality expansion without diverting critical resources from the future of the franchise.
What Could a New Story Possibly Be About?
With no official details, the realm of possibility is wide open. However, the community has latched onto a compelling theory. We already know from CD Projekt's comments that Ciri, Geralt’s formidable adopted daughter, is set to be the lead protagonist in The Witcher 4. It seems perfectly logical, then, that a final Witcher 3 expansion could serve as her origin story or a direct narrative prologue, allowing players to step into her shoes and experience events that set the stage for her solo journey.
This idea has gained significant traction on platforms like Reddit, where the overall sentiment towards a third expansion is overwhelmingly positive. Long-time fans are eager for any excuse to return to that rich world, especially if it means more time with such a pivotal character. "The thought of getting a Ciri-focused expansion that ties directly into the next game is a dream scenario," one top-voted comment reads.
A Necessary Dose of Caution
Amidst the excitement, a chorus of cautious voices remains. It’s crucial to remember that the Noble Securities report is exactly that—an analyst’s projection based on market trends and financial modeling, not an official press release from CD Projekt. The studio itself has remained silent on the matter, neither confirming nor denying the existence of such a project.
Investor reports can be prescient, but they are not gospel. They represent an informed "what if" scenario designed to guide financial decisions. While the logic is sound and the timing plausible, fans should temper their immediate expectations until an official word comes from Warsaw.
The Bottom Line
The dream of a new Witcher 3 adventure is very much alive. Backed by credible financial speculation and a narrative gap that perfectly fits Ciri’s ascendancy, the case for a 2026 expansion is stronger than ever. Whether it materializes as the analyst predicts remains to be seen, but one thing is clear: even after a decade, the White Wolf’s world continues to captivate, and the hunger for more of its stories is far from sated. All eyes are now on CD Projekt Red, waiting to see if they will play their next card from the Continent.