Two former employees of Naughty Dog — the developer behind Jak and Daxter, the original Crash Bandicoot, and most recently Uncharted: Drake’s Fortune — have formed their own game studio called Big Red Button Entertainment.

The ex dogs in question are art director and concept artist Bob Rafei and senior designer and creative director E. Daniel Arey. The slogan for the company is “Games you can watch, movies you can play!”, so it’s fairly safe to speculate they’re aiming for cinematic gaming experiences with at least few of the six original intellectual properties they currently have in concept production.

Some time ago we reported on another new studio being formed by former Naughty Dog employees. Steel Penny Games, founded by Jason Hughes (a senior graphics tools engineer) and Andrew Gilmour (a senior background artist), is working on a Wii game and is also certified for Xbox LIVE Arcade development.