According to an email sent out to folks signed up for the Might & Magic Heroes Kingdoms newsletter, the game is nearing its beta stage of development. The site is fairly spare and some of it is in French but there is an indication in the newsletter that registering on the site will make users eligible for the beta.
Might & Magic Heroes Kingdoms will be a browser-based MMO and is currently in development by Ubisoft.
Read more at the official Might & Magic Heroes Kingdom site.
