Official Website: https://new-gen.pso2.com/
Phantasy Star Online 2 (PSO2) is the continuation of the Phantasy Star Online series created and developed by Sonic Team and published by Sega in 2000 for the Dreamcast (Wikipedia). New Genesis is actually a different game that is accessible via game server instancing technology. Vanilla PSO2, before the graphic engine update, was a game launched in 2012 and received minor content updates compared to other MMOs in the world. Towards 2021, SEGA is finally launching their true vision for the series called PSO2: New Genesis. There are many reasons why SEGA decided to retain both version. One contributing factor was for players to retain their data and keep the value of time they have invested into their account. With New Genesis, players are able to use the same account and character as they used in vanilla PSO2, which has been an unparralelled feat in gaming, but not to the tech industry (Google was one of the first, OKTA, etc.).
PSO2: New Genesis takes place 1000 years after vanilla PSO2's story and boast a brand new game-engine with renewed graphics and gameplay mechanics.