While this may change during testing, I'm quite confident this will be the mainstay. Here is the announcement.
Both Witcherverse and Tolkienverse have been considered and both have advantages and disadvantages.
Witcherverse:
Pro: Relates more to slavic mythology which is dark, unique and colorful, more "grey" area in good and evil. Slightly more magic and 'interracialism' than in Tolkienverse, so it's more DnD like, yet still quuite low-magic. Witcher as a class is quite fascinating in of itself.
Cons: No Orcs. The worldbuilding/settings isn't rich.
Tolkienverse:
Pro: Incredibly rich universe and settings which were the foundation of all fantasy.
Cons: Too black and white/Good versus evil. Trite. Almost non-existent magic other than a few extremely special characters.
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So with that in mind, this is the idea: You may choose whether your character is from the Witcherverse or the Tolkienverse.
If you play a PC from the Witcherverse, your main community will be Beaconswode. This is a town of shipwreck survivors from "The Continent" (again, this is Witcherverse). Also, you are not allowed to play any character with evil alignment, please choose a character from Middle Earth if you want to play a character with evil alignment.
Restricted Races: Half Orcs
Restricted Classes: Monk, Cleric
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If you play a PC from the Tolkienverse, you will start in The Fortress, where the ruling class is The Orc (half-orcs are considered). In this storyline, Sauron has won the battle for Middle Earth and has more to conquer other dimensions/worlds, and he has found access to the 'Island of Haze', where the story takes place. So, if you choose a character from Middle Earth, whatever the history of your character is, it would've eventually swore allegiance to the Dark Lord. You cannot play a character with good alignment if your character is from Middle Earth (but neutral is fine).
Restricted races: Halflings, gnomes, half-elves
Restricted Classes: Monk, Cleric, Wizard, Paladin, Druid, Bard (You can only play as Barbarian, Fighter, Rogue or Sorcerer with necromancy spells)