While Crytek isn’t naming any names, the company claims that the all new next generation Crytek engine 3 is ready and is already being used by unnamed developers who are using it to build titles for the next generation consoles.

Sources seem to believe that select studio teams have been working on next generation titles since Microsoft issued specs to some developers late last year. It is unclear if the new Crytek Engine 3 is just coded to certain development standards that Microsoft provided to developers.

Crytek has twice (that we know of) said that while it may be working on a new TimeSplitters 4 title, it isn’t using the new Crytek 3 engine to power it. However, sources tell us that this could just be a clever smoke screen.

Crytek says that they will be showing more on their new engine during 2012. The company claims that they didn’t have to rebuild their engine to deliver the higher quality expected for the next generation of consoles. Sources tell us that the engine will be available for use on the Xbox 360, PlayStation 3, and the PC. It will also be offered for several of the unnamed next generation consoles.