Free sand box multiplayer game. http://www.avorion.net/?section=home also looks like it going to be on Steam as well.
Procedurally generated galaxy
All the content in the game is generated while the player explores. So whereever you go, you will always find new places, ships and factions. The galaxy is nearly endless, so visit the sector next to yours and find who your neighbours are!
The game is meant to be a sandbox. You're free to do pretty much everything you want to: Explore, mine asteroids, trade goods, help others, build up an army, go to war, be a pirate, raid helpless freighters. Do whatever suits you most!
Build your own ship
You can build your own ship just as you wish to. As everything is made of blocks in the game, you can combine them in any way to build your perfect ship.
Money and resources are gained from mining asteroids or old ship wrecks. Collect enough credits to build up enormous space ships!
Play with your friends
The game will be a multiplayer game with multiple players on one server. You can play with your friends, team up to destroy the evil fractions and pirates, or you can play against each other. Do as you wish!
gave it a spin, seems to be coming along nicely! He would already do very well if he made a game similar to Space Engineers, but without the frequent annoying physics engine shenanigans.
Seems he's doing a bit more than that. Some of the features clearly are inspired from the X games, if you see how they play out ingame. Even some of the names used are the same! I do not consider that a bad thing to be honest, since I find a raw sandbox without any real dynamic PVE (why I find X3 AP more enjoyable than space engis) and an environment you can immerse into more enjoyable than a raw sandbox. If he has to simplify the physics engine and the graphics a bit to pull that off, then I'd fully applaud it. So far what I see, looks good! And somewhat similar to LTheory (altho LTheory has smexier graphics and its procedural systems are a bit more advanced).