Let me be clear, what I have isn't as much a theory as it is a narrative that could fit the current facts, as well as one specific clue.

This first came to mind when I was scrolling through the battlepass the other day and I found the tier 14 gun buddy "The Key of Life". This is an ancient Egyptian symbol called an Ankh, which is both the hieroglyphic for "life" and a symbol representing life itself in lots of ancient Egyptian artwork. I immediately looked through the rest of the battlepass for something similar, or something with a similar theme. Nothing. Every other battlepass reward is either part of a group of similar rewards, like the Lycan's Bane set or the Home Again cards, or a one-off meme, like the Sheesh spray.

Here's where I start to run out of evidence and enter the realm of speculation. We know that the new agent is an initiator meant to rival Sova. We also know that the ancient Japanese have had access to radianite artifacts, like Yoru's mask, which had given them power long before the Valorant Protocol came into existence. I think it's possible that the new agent would be able to detect the positions of enemy's like Sova would, but using some form of power based on radianite that could even be what the ancient Egyptians had used to see the Ka or soul. This would call back to the ankh in the battlepass.

I also want to talk about the blackmailer for a second. I'm not exactly sure the blackmailer is supposed to be the new character, he's antagonized the Protocol as a whole too much for me to suspect that they would recruit him, but I think that even in the possibility that he is the new agent, it's not impossible that he's Egyptian anyway. The new PBE patch gave us a few pieces of evidence showing us that the location that the Protocol is about to assault to take out the blackmailer is in Turkey, but I personally think that's a red herring. The blackmailer's been too confident in saying that he's outplayed both Cypher and Sova; I highly doubt they found him quite that easily. It's most likely a diversion and he's somewhere else in actuality. Either that, or the Valorant Protocol will meet with an insurmountable obstacle that will require the abilities of someone with soul magic to find and eliminate the blackmailer for them.

TLDR: There's an ankh in the battlepass which suggests that the new initiator will be an ancient Egyptian-themed agent with the ability to detect souls.