"Starbound begins with you fleeing your homeworld in a space shuttle, just as it’s destroyed by an unknown enemy. With nothing to guide it, the escape pod shoots into space without direction, becoming hopelessly lost in a sea of stars. As luck would have it, the space shuttle makes contact with an abandoned space station and an adventure begins that will take you hurtling across the universe. Starbound contains both quests and story driven missions, buried inside its vast sandbox universe.

So basically Starbound is a 2D sandbox in space with limitless procedurally generated planets to explore. They also mentioned you can "take over" certain planets if you want to, which I find really cool. I was pretty impressed to see spaceships and mechs as awesome vehicles to take you from place to place. Oh right and this 2D epicness comes with multiplayer and is slated to come out some time in 2013.

Recently they posted that you can try an online character creator to see what kinds of ways you can customize your character. Its not a final product, but shows off some of the features we can expect.

http://community.playstarbound.com/index.php?threads/online-character-creator-update-part-deux.15383/

Another interesting bit is that Starbound and Stardew Valley are both published by Chucklefish. Both games look amazing and it looks like Chucklefish is publishing a few others work looking into.

http://playstarbound.com/