Everyone is waiting to see what hardware is unveiled on May 21 when the next Xbox is officially launched, but Microsoft may also have a big game exclusive to talk about. Rumors are swirling that the first game from Respawn Entertainment will only be released on Xbox hardware.Why is that a big deal? Well, you may remember that Respawn was setup by Jason West and Vince Zampella after Activision fired them from their positions at Call of Duty developer Infinity Ward. West and Zampella then went on to sue Activision for wrongful termination, reportedly getting a very healthy out of court settlement from the publisher.West and Zampella are the co-creators of the Call of Duty series, so it’s not surprising that Respawn is creating a multiplayer online shooter as its first game. It is being developed under the working title of Project Titan, already has a publishing deal with EA, and has been in development since the studio formed in April 2010.A lot depends on the quality of Project Titan as to how big of a deal an Xbox exclusive is. But you can expect there to at least be a lot of interest surrounding the project. A multiplayer online shooter of the quality of Call of Duty is also a pretty safe bet in terms of sales potential, but we need to see if Respawn can deliver on that front.Kotaku has been told that Project Titan is being created using a modified version of Valve’s source engine, uses a sci-fi setting, will be an always connected game, and has RPG elements (skills progression, weapon unlocks, experience points collection) to help hook the player and keep them playing.As you’d expect, Microsoft isn’t commenting on the rumor and Respawn responded by writing this tweet:Securing Project Titan as a console exclusive could potentially be a huge win for Microsoft. Typically a CoD release sees a new sales record set and multi-millions of copies sold. That’s unlikely to happen for Titan unless it receives instant critical acclaim and a huge marketing budget from Microsoft and EA. But for a new console launch it’s worth taking the risk for Microsoft and blocking the game’s release on other hardware. It could be another Halo, and that’s probably how Microsoft likes to view it if this exclusivity deal is indeed true.