Chex Quest HD, a full free-to-play remake of 1996’s Chex Quest, is coming this year. According to the game’s Steam page, it’ll be free-to-play and will feature multiplayer, and is co-developed by the newly-formed Team Chex Quest HD and Flight School Studio (Creature in the Well).
You play as one of the six unlockable members of Chex Mix Squadron, sent to a Intergalactic Federation of Snacks outpost on the planet Bazoik to fight off interdimensional monsters, called Flemoids. You’ll use “zorching” devices on them, and, presumably, come away from the game hungry for a bowl of cereal.
One of the screenshots (below) asks players to redeem a code, so a tie-in promotion with the cereal itself seems very likely. You’ll be able to play with another player, as long as you both have controllers (online play seems unlikely).
A Chex Quest remake was first teased back in 2016, but we hadn’t heard anything since–until now. The original Chex Quest was a total conversion of Ultimate Doom, designed to advertise Chex cereal. It was released on CD-ROM in cereal boxes.