The Swedish pop group have not formally performed together since they split up more than 30 years ago but did appear at a 50th anniversary party in June.
The project, which will involve virtual reality and artificial intelligence, has been described as a "new entertainment experience".
It will be developed in collaboration with music manager Simon Fuller.
"We are exploring a new technological world that will allow us to create new forms of entertainment and content we couldn't have previously imagined," Fuller said in a statement.
Full details of their new project will be announced in 2017.
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