The video was made with in-game assets and is not pre-rendered.
What is Ashes of Creation?
Set in a fallen fantasy world untouched by civilization for thousands of years players will rebuild, repopulate, and rediscover this uncharted realm. The game world is ever changing with ruins, beasts, and cities that rise and fall. Weaved into a progressive character system where players hold all the power, the fates of creation are yours to command.
This certainly sounds like a great take on the MMORPG and Intrepid Studios state very clearly that there will be no pay to win which will make fans of the genre very happy I am sure. If you are interested in the game there is still time to check out the Kickstarter and you can back the game from as little as $25.00 (£19.35 approx).