In a recent interview, Petrov explains that the game takes place on the island of Enterra, which they hope to make one continuous area. They don't like instances so players should be able to run from one end of the world to another devoid of load screens. While they're not guaranteeing anything at this point, they hope to also have the whole of the game and it's players reside in a single world.
The screenshots (not all of which are available on the official website) released so far, and which have increased in regularity over the last few weeks, shows an artistic, photorealistic world. Mastheads plans on making sure Earthrise runs on as many machines as possible by offering scalable graphics options. Petrov said they aren't proponents of the microtransaction business model, so expect a monthly subscription fee like most U.S. based MMOs.