From a March promotional video.

PlayStation Vita's most prolific developer is undoubtedly Gamearts. The studio has already released Ragnarok Odyssey and Dokuro, and will soon release its third game, Picotto Knights.

Detailed in this week's Famitsu, Picotto Knights is a free-to-play side scrolling action RPG. Four players can team up for co-op online play, or you can go at it solo, making use of your friends' characters.

The game promises more content than one would expect of a free-to-play game, including high quality visuals, over 400 characters, character growth and customization elements, and regular updates.

Those characters are meant to be stylized versions of characters from other games. Gamearts is apparently planning some collaborations with other companies for this area.

Unlike Ragnarok and Dokuro, which were were released by GungHo, NHN Japan will handling publishing on Picot Knight. A release is planned for some time this month.

Gamearts already shared first teaser footage for Picotto Knights back in March when it announced Dokuro. According to the teaser trailer, Picotto Knight comes from "Team Gajet." See this story for a video.