It's Minecraft for Harvest Moon.
http://www.nintendoworldreport.com/hands-on-preview/37794/harvest-moon-the-lost-valley-e3-hands-on-preview
It seems that we’ll be ramping up the farming action this year with not one but two “Harvest Moon” games. Lost Valley is, however, the real Harvest Moon, developed internally and localized exclusively by Natsume. Aside from the traditional Harvest Moon staple gameplay conventions, building and exploration are the name of the game.
The Lost Valley’s main new feature takes the customization introduced in A New Beginning and gives us more. Players can directly decide on the formation of the land on their farm by raising and lowering it, demolishing, and even adding more water. And every player can even change their farm based on priorities and personal preference. Like raising crops? No problem; there’s plenty of ways to expand your fields! Like fishing? There’s an app for that too.
Want to just shame other players with your epic building skills? Well there is now a simple building component to compliment your land modification. Insta-builder is a tool that uses materials you’ve collected and gives you various building options that you can place into your world. It can get a little clunky when you run into an obstacle while building since there is currently no way to easily demolish or modify it from the insta-builder menu. Players will have to halt their progress and rid themselves of the obstacle before they can finish, which can even require a little bit of travel at times. The process can be tedious, especially for a game that has focused on streamlining man of its elements.
One such case eliminates some of the monotony of tool usage by shaving the whole convention down. So long as the necessary tool exists in the character’s inventory, things like chopping down trees and fishing are only a button a way. I was definitely excited to see the loading screens going to and from my bag disappear.
This new Harvest Moon game is definitely a departure from the more social focus of many previous titles, but it offers us a new dynamic to the gameplay that could be a total game changer. How this will all work out in the course of a full game will be something to keep an eye out for.
CORRECTION: As has been pointed out in the comments, this game is not made by the usual Harvest Moon developer, and only carries the name due to former western publisher of the series Natsume owning the trademark to the name. Sorry for the confusion.