Nice Tech announced Carnage a couple of months ago, a MMO racer for Xbox 360 and PC to be released in Q1 2007 - and here is the first image "from the game", even though it's only from the menus. It's hard to know wether it's for the Arcade or if it's a full game, but the graphic style hints Arcade-style. Inside you'll find some more information, together with some renders from the announcement.