Bethesda has been signalling the announcement since yesterday and, on a stream today, Bethesda Game Studios director Todd Howard appeared to introduce the game, and explained that there would be more at E3.
It’s not yet clear what kind of game Fallout 76 will be, or which of Bethesda’s studios has been involved in developing it. However, Fallout 76 is currently available for pre-order at the standard R800 suggesting it will not be a free-to-play game. It is currently only confirmed for PC, Xbox One, and PS4.
The titular Vault 76 has previously been mentioned but never seen in previous Fallout games. A “control vault” containing 500 occupants, living in Vault 76 doesn’t appear to involve the cruel experiments most Vaults in the series have been known for.
It’s also not clear where Vault 76 is located, but the song used in the teaser, ‘Take Me Home Country Roads’ does mention “West Virginia”, which could be a clue. Prior Fallout lore also gives us a clue about Fallout 76’s setting