Part 3 of the Guardians of the Galaxy franchisee has been indefinitely put on hold.
After the unexpected success of the first two movies of the installment, Guardians of the Galaxy seemed all set for yet another cinematic marvel on way. However, as reports emerged in August this year of the firing of writer and director James Gunn, any further work on the movie had been stalled.

And now Marvel Studios president Kevin Feige divulged details on the status of the highly anticipated film during a recent special screening of the Black Panther flick. As per Keige, Guardians of the Galaxy is on hold for at least some time from now while the sequel for Avengers: Infinity War will have a trailer release before the year end.
OK, here we go, 3 quick questions, answers direct from Kevin Feige’s mouth
1) AVENGERS 4 trailer “before the end of the year”
2) Namor COULD make an appearance, still deciding IF & when
3) GUARDIANS 3 status “on hold”— ???? (@ErickWeber) October 26, 2018
Keige’s comments herald hope for numerous superhero enthusiasts who have been waiting with bated breath about any reports on the indefinitely stalled Guardians of the Galaxy 3 and also for all those fans and members of the franchisee who have been urging makers to bring in Gunn for the impending project.