The project is in the beginning stages now, with several builds already having been released to raves by dozens of gamers all over the world already participating.
The game itself is a management game with a role-playing game sensibility. You can recruit heroes, view detailed stats on their abilities, age, birthday, height, weight, everything. Build a party of adventurers and send them on dangerous quests in search of riches. You help guide and nurture them through their adventuring careers, healing them and building their skills, and characters age and eventually retire.
"This project is aiming to change the way games are developed," states CEO/Lead Designer Derek DiBenedetto. "This is a special opportunity for gamers to help shape the design of a PC game from its very roots, and the possibilties truly are endless."
Entrance into the project is only $19.95, and this gives any user a full version of the game when released and full access to the private forums during the complete development cycle.
More info for the game related aspects of the project and pre-order links are available on the official website.