This trailer shows some environments from Project Copernicus, the MMORPG that 38 Studios was developing before their financial situation drove them out of business (thanks alvador). There are details about this on Mobhunter.com, the blog of Steve Danuser (former Creative Director at 38 Studios), who explains it is an environmental fly-through intended for a milestone presentation that never happened, and goes on to discuss other aspects of the game, such as the plan to make it completely free-to-play. Here's a bit more on what they were working towards:
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