Its going to be a multiplayer RPG, with endless randomly generated worlds (similar to minecraft with seed generated worlds), and focused on combat, quests & dungeons, wont have mining like in MC but will have building and crafting apparently.
The 1 guy thats developing the project has been designing it and programming it for about 10months I think now, and I gotta say is doing an amazing job, the random worlds are really looking quite amazing & combat is looking really impressive.
Combat vs Monsters Vid
Combat Vid (older video, but shows a few classes)
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