Gearbox Unveils Risk of Rain 2: Alloyed Collective Expansion and Shares New Borderlands 4 Details at PAX East 2025
Gearbox Software took the spotlight at PAX East 2025 with a high-profile presentation focused on two of its most anticipated titles—Risk of Rain 2 and Borderlands 4. Fans were treated to a surprise announcement of a new expansion for Risk of Rain 2, titled Alloyed Collective, while also receiving deeper insights into the narrative and gameplay structure of Borderlands 4.
Risk of Rain 2: Alloyed Collective Expansion Announced
The Risk of Rain 2: Alloyed Collective expansion plunges deeper into the mysterious and chaotic world of Petrichor V. Featuring six new stages, 15 new items, seven new enemy types, and two additional survivors, the expansion significantly expands the game's scope. Notably, only one player in a group needs to own the DLC for everyone to access the new content, encouraging co-op play without limitations.
No official release date has been confirmed, but the "coming soon" teaser suggests a launch may be imminent.
Borderlands 4: New Lore and Gameplay Details
As for Borderlands 4, Gearbox President Randy Pitchford was joined on stage by Andrew Reiner (Chief Creative Officer), April Johnson (Associate Narrative Director), Nick Thurston (Lead Game Designer), and Grant Kao (Associate Creative Director). The panel dug into fan-submitted questions and teased what’s next for the Borderlands franchise.
Much of the discussion focused on the narrative aftermath of Borderlands 3. April Johnson confirmed that the Crimson Raiders have dispersed across the galaxy, each searching for Lilith. Borderlands 4 will reintroduce many of these characters while anchoring the story around the new antagonist, the Timekeeper, and the mysterious new planet, Kairos.
A detailed look was also given to the game’s four new Vault Hunters—Rafa, Vex, Harlowe, and Amon—each with their unique backstories and motivations. The world of Kairos, according to Pitchford, is the “biggest open world” Gearbox has ever built for a Borderlands title and will feature no load times between exploration zones.
Pre-Order Pricing Still Undecided
One of the standout moments of the panel was when Pitchford addressed the elephant in the room—how much will Borderlands 4 cost? While he didn’t provide a definitive answer, he acknowledged the growing development budgets and hinted that the price could align with the recent industry trend toward $70 or even $80 games, as seen with titles like Mario Kart World and GTA VI.
“Borderlands 4 has more than twice the development budget than Borderlands 3. I don’t know what the price is going to be,” Pitchford admitted. “That’s going to be up to the publishing house.”
He also teased that pre-orders will go live during an upcoming Gearbox event in June, possibly coinciding with Summer Game Fest.
Between a content-rich Risk of Rain 2 expansion and an ambitious, story-driven Borderlands 4, Gearbox continues to build excitement across its biggest franchises. While pricing details remain uncertain, what is clear is the scale, depth, and polish the studio is aiming to deliver.
What’s your take on Borderlands 4’s open world and Gearbox’s handling of game pricing? Would you pay $80 if it delivers on the promise? Share your thoughts in the comments below!
