I doubt it's anywhere near release.

From: http://www.kotaku.com.au/2012/09/7-minutes-of-cube-world-will-make-you-smile-unless-you-hate-happiness/
His Blog: http://wollay.blogspot.ca/

looks like mc + dragon nest

Would be awesome if you could build things like in mc. From the looks of it though, it won't be available?

saw this a few weeks ago! looks awesome

It is confirmed by the dev that there will be absolutely no mining/digging involved. He plans to add crafting out of mob drops. Houses are supported, however (not sure how you will build them). There will be shops for weapons, armors, potions and all that good stuff.

I'm kind of dissapointed by the lack of "Sandboxing" compared to minecraft. If you could mine for ores and refine into armor and whatnot this would be great. I guess monsters will be dropping the ores and other stuffs.