While you can probably guess all of this from its inspiration alone, Dauntless is an upcoming RPG that's all about hunting down giant monsters with ridiculous weaponry, carving said monsters up, and then using their spikiest body parts to create even more ridiculous weaponry. There will obviously be plenty of features that set it apart from Monster Hunter, but the basic premise is pretty much the same.
If this sounds like something you would love to play, you're in luck as the first public alpha has just been announced. While the final version of Dauntless will be free-to-play, those that pre-order the Founder's Pack (at a rather pricey $80) will get early alpha access on August 18th. Whether this is worth it or not, that I'll leave for you to decide, but if you're wondering what the Founder's Pack even contains you will find what you seek over at the official FAQ.
On the other hand, if you don't feel like dropping $80 on something you've never even seen, worry not as the NDA will be lifted during the Founder's Alpha. In other words, expect to see plenty of streams and Youtube videos showcasing everything from combat to crafting. Until then, however, allow me to leave you with one of the latest gameplay teasers: