The project is built on the Hero Engine (and if that doesn't mean anything to you, you'll surely recognize the tech's most famous implementation to date) and is described as a three-faction PvP game that allows players to join existing nations or create their own. Gameplay is purportedly skill-based, and there is a toggle between traditional MMORPG button-mashing combat and some sort of action mode. There are also "many non-combat activities" including an "advanced" crafting system.
The video shows quite a bit of footage given its sub-two-minute running time, and you can get a glimpse of city building, combat, and the user interface after the break.
