As was first reported in GS News, we know that the game is set on a planet whose people have been wiped out, leaving only a trace of an ancient but advanced civilization. But after the initial destruction, people began rebuilding, and in the process discovered a ruined city, Fogna.
During the excavation, they stumbled upon a machine called an EGG (Elemental Gimmick Gear) and a mysterious Sleeping Man, who has been sleeping for thousands of years. After the excavation, people created their own EGGs based on research of the original. EGG was utilized to the fullest for chores, military uses, and even battling for fun.
One hundred years after the EGG was first excavated, huge tentacles arose from Fogna and began dragging the city and its people into ground. Coinciding with this, the mysterious Sleeping Man awoke. You are the Sleeping Man, trying to solve the mystery of the tentacles and save the city.
The game proceeds on a 2D map called the "Full Illustration Map." It's not rendered, but it is a good old hand-drawn one. There are lots of interactive objects and special attacks with cool effects. There is a hook-shot gimmick as well. Boss battles will take place on a fully 3D field, which will utilize the Dreamcast's power. Some could say EGG sounds like a combination of the 16-bit Zelda and 64-bit Zelda. Only time will tell.