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Guys I ran across this the other day... have a look.
Even though it has a .de its in english.
From the site:
What is Myrdragor?
Myrdragor combines the classic MMORPG with the freedom of a classic RPG, it combines open world aspects and sandbox concepts, it has the ambition to create a free and vibrant world. Myrdragor gives players the opportunity to be relevant to the world and its history, by their actions and their creativity. You don’t play Myrdragor, you're part of Myrdragor.
Myrdragor is more than just an MMO. Its economics and strategy, dungeoncrawling, hack and slay, politics and role-playing combined in a wonderful living world where anything is possible.