Noita is a "magical action rogue-lite" ("rogue-lites" being, very generally, a less punishing and restrictive take on the "roguelike" genre) being developed by the fellows behind games including Crayon Physics Deluxe, The Swapper, and Environmental Station Alpha, who have come together to form a new studio called Nolla Games. And it—the game, that is, not the studio—is noteworthy because every pixel in it is "physically simulated," which means that the entire game world will react to your actions.
Noita will enable players to craft their own spells as they delve deeper into its caverns, but as a rogue-lite, death comes easily and is permanent. And because the game world is procedurally generated, Nolla said players can expect "a unique world" with changing environments every time they play.
The trailer really does look spectacular: I have a very strong feeling that Noita is not the sort of game I'll be able to play very well, but I definitely want to play it. For now, I have no idea when I'll have that opportunity, as a release date hasn't been set. But it is coming to the PC—that's the only confirmed platform so far—and it will go out in Early Access before its full release.
And that's about it, aside from a spot of trivia—"Noita" is Finnish for "Witch"—and some screens to enjoy below.