Techland, creators of Dead Island, have released a little more info on their side-project Hellraid. It will primarily function as a cooperative hack and slash RPG with a fantasy theme.
While it is possible to play in singleplayer, the goal for the game is to run co-op games where players compete against each other. Gameplay will consist of hopping through portals to loot a set of levels. Crafting will enhance the player customization across 4 classes. Like in Dungeonland, players can be joined by a Game Master, which overlooks the playing field in traditional roleplaying style. A few new screenshots have been released.