It looks as though a Phantasy Star Online 2 x Persona collaboration is actually happening. The new announcement was made at SEGA FES 2018. The collaboration is between both Persona 3: Dancing Moonnight and Persona 5: Dancing Starnight. It will go live in June. Owners of the game will be able to get a variety of new avatar items plus new dancing lobby actions from the main cast. The company also announced a music live event which will happen in the near future.