It's very likely that Ubisoft will either forget Basim completely or just moves the Basim storyline to comics like they did with the Juno arc. Pretty much all the leaks say that the modern day story of the next games takes place in the far future with a new cast of characters.

However, if they do decide to include him in future releases, he will likely become a villain because he has fully accepted Loki. And Loki's primary motivation is to find his son Fenrir. Loki seems to believe that somehow his children might have survived the "great disaster".

We don't really know what Fenrir really is in the Isu lore. But since the norse mythology depicts him as a giant demonic wolf, I'd say he is something very evil.